4209 PR.02 Capitalization of Moveable Equipment Accessories and Composite Assets

Revision Date: 
March 27, 2024

Contents

1.     Overview

2.     Accessories

3.     Composite Assets

1. Overview

This procedure describes the process for capitalizing Composite Assets and Accessories as part of the University’s Moveable Equipment Inventory (“MEI”) in support of University Policy 4209 Moveable Equipment.

2. Accessories

Departments that wish to capitalize an Accessory costing less than the University’s Capitalization Threshold must complete the following steps:

  • complete an MEI Accessories and Composite Form (Form 4209 FR.03 Request for Capitalization of MEI Composite Assets and Accessories) identifying the Accessories and the purchase prices of each; and
  • submit the completed form to the Capital Asset Accounting team at mei.admin@yale.edu, along with copies of the vendor invoices and purchase orders.  In the email, also provide the asset identifier (RFID tag number) of the MEI asset to which the Accessory relates.

The Capital Asset Accounting team reviews the request and notifies the requesting department whether the request meets the requirements for capitalization or not.  The Capital Asset Accounting team alone has authority to approve such requests.

If approved, the Capital Asset Accounting team capitalizes the purchases in the MEI system.

3.Composite Assets

Departments that wish to capitalize individual components as a Composite Asset must complete the following steps:

  • complete an MEI Accessories and Composite Form (Form 4209 FR.03 Request for Capitalization of MEI Composite Assets and Accessories) identifying the component parts and the purchase prices of each; and 
  • submit the completed form to the Capital Asset Accounting team at mei.admin@yale.edu, along with copies of the vendor invoices, purchase orders, and the location of the Composite Asset.

The Capital Asset Accounting team reviews the request and notifies the requesting department whether the request meets the requirements for capitalization or not.  The Capital Asset Accounting team alone has authority to approve and disallow such requests.

If approved, the Capital Asset Accounting team capitalizes the purchases in the MEI assets system.