Property Control System Manual (PCS)

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Effective: 1/27/1993

Revised: 3/1/2014

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PCS 210: Interdepartmental Acquisition of Used Equipment

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Purpose

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To allow departments to purchase capital equipment from each other

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Sources

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Property Control
Financial Services

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Policy

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Departments may purchase capital equipment from other departments. For such transactions, an Asset Update record must be prepared and processed.

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Procedure

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The department selling equipment:

  1. negotiates a selling price with the acquiring department
  2. performs an online Asset Update change to reflect the new department code in the property system (contact Property Control if you do not have access to the Asset Update site)
  3. prepares an expense transfer (IX) document
    Note: Use object code 7810 95, crediting and debiting the agency/orgs for the releasing and receiving departments respectively.
  4. records the ASU property control number(s) in the description field of the IX

    and

  5. forwards a photocopy of the IX to Property Control.

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Additional Information

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For information on revenue codes and expenditure codes, see the Financial Services, Financial References Web page.

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Cross-Reference

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For information about equipment specifically acquired for resale, see PCS 209, “Acquisition of Equipment for Resale.”

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