Financial Information Services


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Purchased Equipment Transactions:

Only expenses that meet the equipment/software definition should be charged to the Equipment subaccounts in the FAS system. (Financial Policy No. 1004.1)
Equipment subaccounts can be found in the FAS Manual.

Constructed Equipment Transactions:

The procedure for recording expenses for an item of constructed equipment is as follows:
  • At the beginning of the construction period, the department should request the Property Management Section of the Comptroller's Office to enter a description line on a unique 62XX subaccount that identifies the item of constructed equipment. This subaccount should be used to accumulate all of the charges for a unique piece of constructed equipment.
  • Property Management will assign an Asset/Tag number as part of the subaccount description line for the piece of constructed equipment. This will be the identifier for the entire piece of constructed equipment.
  • At the end of each fiscal year, the Property Management section will notify the department of the charges accumulated for each constructed equipment subaccount for that fiscal year and assign a "Y" asset number. The total project's asset number will be referenced as the asset that this is "Part of".
  • An acquisition date of June 30 will be assigned for the current year's construction costs.

Leased Equipment:

Equipment operating leases are not added to property records. They should be charged in FAS to Equipment Lease subaccounts.
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