This includes purchases of components that may be assembled to create an item with a combined value that would exceed $5,000. The individual who purchases the item is responsible for reporting all necessary information to PIM. University Vice Presidents have delegated this authority to the appropriate department head, who will appoint Property Managers. University Vice Presidents are charged with ultimate responsibility for ensuring compliance with the laws regarding equipment inventory. 1, 2005, The University of Alabama threshold set by The Board of Trustees is $5,000 or more. If a piece of equipment was classified as University-Controlled property or University-Owned property at the time it was purchased but later falls under the threshold because the threshold has been raised, then the University-Controlled property or University-Owned property will be removed from the University inventory. Decisions will be made on the most consistent basis possible. Resolution of specific situations where the status of a piece of equipment is questionable as to whether it is “fixed” or “moveable” will be left to the discretion of PIM. Examples of items excluded from University inventory are water heaters, built-in appliances, central air-conditioning systems, boilers/chillers consumable supplies classified as “expense” rather than “equipment” such as glass, cloth, rubber, filament and inflatable products repair and replacement parts tool kits or assortments of small hand tools and toys used for instructional or recreational purpose. Property not subject to inventory control includes categories such as land, buildings, fixed equipment, intangible assets, software, library books, collections, mounted audio visual systems, modular and/or mounted furniture, access control equipment, servers, blades, and switches.
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