Property Control System Manual (PCS)

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Effective: 1/27/1993

Revised: 7/1/2012

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PCS 408: Receiving Lease/Purchase Equipment

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Purpose

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To properly receive lease/purchase equipment

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Sources

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Arizona Board of Regents Policy Manual - 3-607
Property Control
Purchasing and Business Services

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Policy

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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.

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Procedure

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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.

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Cross-Reference

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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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