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The threshold for tracking assets in the College's fixed assets system changed from $2,500 to $5,000. This is accompanied by the change in description of a number of Natural Class values used for equipment purchases. Instead of <$2500 and $2500-$24999, these descriptions will specify <$5000 and $5000-$24999 respectively.
Please note that Computer Store inventory has been reclassified so that it will be posted to the correct natural class value reflecting its dollar threshold.
When deciding which natural class to use when purchasing equipment, please use the following guidelines:
If the item(s) you are purchasing are each individual items that work on their own, use the dollar amount for each one to determine the natural class. For example, if you are purchasing ten rowboats at $4,000 each, with a total bill of $40,000, you would choose a natural class in the <$5000 category. The total bill is not relevant if each piece works on its own.
In contrast, if you are purchasing an equipment system where ten pieces, at $4,000 each work together to perform a function, this would be considered capital equipment at >$25,000.
Installation and freight must be included in the capital equipment natural class. Consumable supplies and training invoiced along with an equipment purchase are not considered to be capital equipment; please record in a supply or purchase services natural class.
If the items being purchased are consumable (replaced on an annual or regular basis), such as sneakers, pencils, and uniforms, please use a supplies natural class rather than an equipment natural class.
The affected Natural Class values are below:
| Natural Class Level 4 Parent | Natclass Child Code | Natural Class Description |
|---|---|---|
| NONOPERATING NONCAP EXPENDITURES | 5474 | NONOP NONCAP Intnl Equip under 5000 |
| NONOPERATING NONCAP EXPENDITURES | 5484 | NONOP NONCAP Intnl Equip 5000-24999 |
| EQUIP FURN FIX UNDER 5000 BUDGET | 7020 | EQUIP FURN FIX UNDER 5000 Budget |
| EQUIPMENT UNDER 5000 | 7031 | EQUIP UNDER 5000 Athletic |
| EQUIPMENT UNDER 5000 | 7032 | EQUIP UNDER 5000 Audio Visual |
| EQUIPMENT UNDER 5000 | 7033 | EQUIP UNDER 5000 Communication |
| EQUIPMENT UNDER 5000 | 7034 | EQUIP UNDER 5000 Computer Hardware |
| EQUIPMENT UNDER 5000 | 7035 | EQUIP UNDER 5000 Laboratory |
| EQUIPMENT UNDER 5000 | 7036 | EQUIP UNDER 5000 Mechanical |
| EQUIPMENT UNDER 5000 | 7037 | EQUIP UNDER 5000 Medical |
| EQUIPMENT UNDER 5000 | 7038 | EQUIP UNDER 5000 Office |
| EQUIPMENT UNDER 5000 | 7039 | EQUIP UNDER 5000 Specialized |
| EQUIPMENT UNDER 5000 | 7041 | EQUIP UNDER 5000 Teaching |
| EQUIPMENT UNDER 5000 | 7042 | EQUIP UNDER 5000 Technical |
| EQUIPMENT UNDER 5000 | 7043 | EQUIP UNDER 5000 Machines and Tools |
| FURNITURE AND FIXTURES UNDER 5000 | 7061 | FURN FIX UNDER 5000 Furn Fixtures |
| FURNISHINGS UNDER 5000 | 7071 | FURNISHINGS UNDER 5000 Carpet |
| FURNISHINGS UNDER 5000 | 7072 | FURNISHINGS UNDER 5000 Drapes |
| FURNISHINGS UNDER 5000 | 7073 | FURNISHINGS UNDER 5000 Mattresses |
| EQUIP FURN FIX 5000 TO 24999 BUDGET | 7100 | EQUIP FURN FIX 5000 to 24999 Budget |
| EQUIPMENT 5000 TO 24999 | 7111 | EQUIP 5000 to 24999 Athletic |
| EQUIPMENT 5000 TO 24999 | 7112 | EQUIP 5000 to 24999 Audio Visual |
| EQUIPMENT 5000 TO 24999 | 7113 | EQUIP 5000 to 24999 Communication |
| EQUIPMENT 5000 TO 24999 | 7114 | EQUIP 5000 to 24999 Comp Hardware |
| EQUIPMENT 5000 TO 24999 | 7115 | EQUIP 5000 to 24999 Fabricated |
| EQUIPMENT 5000 TO 24999 | 7116 | EQUIP 5000 to 24999 Laboratory |
| EQUIPMENT 5000 TO 24999 | 7117 | EQUIP 5000 to 24999 Mechanical |
| EQUIPMENT 5000 TO 24999 | 7118 | EQUIP 5000 to 24999 Medical |
| EQUIPMENT 5000 TO 24999 | 7119 | EQUIP 5000 to 24999 Office |
| EQUIPMENT 5000 TO 24999 | 7121 | EQUIP 5000 to 24999 Specialized |
| EQUIPMENT 5000 TO 24999 | 7122 | EQUIP 5000 to 24999 Teaching |
| EQUIPMENT 5000 TO 24999 | 7123 | EQUIP 5000 to 24999 Technical |
| EQUIPMENT 5000 TO 24999 | 7124 | EQUIP 5000 to 24999 Machines and Tools |
| FURNITURE AND FIXTURE 5000 TO 24999 | 7131 | FURN FIX 5000 to 24999 Furn Fixture |
| FURNISHINGS 5000 TO 24999 | 7151 | FURNISHINGS 5000 to 24999 Carpet |
| FURNISHINGS 5000 TO 24999 | 7152 | FURNISHINGS 5000 to 24999 Drapes/td> |
| FURNISHINGS 5000 TO 24999 | 7153 | FURNISHINGS 5000 to 24999 Mattresses |
| VEHICLES 5000 TO 24999 | 7171 | VEHICLES 5000 to 24999 Vehicles |
| INTERNAL DEPT REVENUE OTHER | 4875 | INT DEPT Computer Equip less 4999 |
| INTERNAL DEPT REVENUE OTHER | 4876 | INT DEPT Computer Equip more 5000 |
| INTERNAL DEPT CHARGES OTHER | 7875 | INT DEPT Computer Equip less 4999 |
| INTERNAL DEPT CHARGES OTHER | 7876 | INT DEPT Computer Equip more 5000 |