Subject Area: Accounting
Responsible Office: Purchasing and Payment Services
Approval: Associate Vice President for Finance
Originally Issued: December 1989
Revised: May 1998, January 2010
Refer Questions To: Martha Bulin, 773-702-1958

PURPOSE:   To assure the avoidance of purchasing unnecessary or duplicative equipment in accordance withSection 44(a)(1) of Office Management and Budget Circular No. A-110.

POLICY

1. Financial Services is responsible for maintaining a permanent, detailed record of all fixed and moveable equipment owned by the University or used by the University but owned by the Federal government and other external agencies.
2. University departments are responsible for reviewing (screening) departmental equipment records provided by Financial Services before purchasing an item of equipment to determine if similar and suitable items are available in the department that would make it unnecessary to acquire an additional item of equipment.
3. The above screening procedure must be documented before an item of equipment in excess of $5,000 is charged against a Federal award.
4. Purchasing and Payment Services will monitor compliance with this policy by reviewing all purchase orders for items of equipment in excess of $5,000 charged to a Federal award for evidence that such screening has taken place.