Equipment

Equipment is an article of non-expendable, tangible personal property having a useful life of more than one year and an acquisition cost which equals or exceeds $3000. MIT's capitalization policy provides a more comprehensive explanation.

If the fabrication of equipment at MIT is necessary, the DLC should prepare and forward a request for creation of a fabricated equipment cost object to the MIT Property Office in accordance with MIT policy.

OMB Circular A-21 requires approval to purchase equipment, but many assistance agreement terms, including those from Federal Demonstration Partnership sponsors, eliminate this requirement.

By award COEUS describes equipment approval requirements and, where required, lists approved equipment purchases.

Last Updated 6/17/02