Property Control System Manual (PCS)

Effective: 1/27/1993

Revised: 7/1/2012

PCS 408: Receiving Lease/Purchase Equipment

Purpose

To properly receive lease/purchase equipment

Sources

Arizona Board of Regents Policy Manual - 3-607

Property Control

Purchasing and Business Services

Policy

Lease/purchase equipment is tagged and added to the Property Control database. The installment payments are added to the asset record as they are made.

Procedure

When lease/purchase equipment is received, Property Control:

1. tags the equipment and adds it to the Property Control database

   and

2. provides documentation of the ASU Property Control numbers (PCNs) to the Purchasing and Business Services buyer.

When the fiscal year ends, Purchasing and Business Services:

1. prepares a new purchase order to extend the lease/purchase

   and

2. records the PCNs, or the original purchase order number, in the PTEX table of the new purchase order document.

Cross-Reference

For more information on lease and purchase methods, see the Purchasing and Business Services Policies and Procedures Manual—PUR 602–01, “Lease vs. Buy Considerations.”

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