TO : Faculty and Staff
FROM : Joseph D. Cataldi, Associate Controller
RE : Equipment Disposal Information Request for 2014-15
DATE : May 1, 2015
THIS MESSAGE IS FOR THOSE WHO PURCHASE or USE EQUIPMENT PURCHASED BY THE COLLEGE THAT, WHEN PURCHASED, HAD A COST OF $5,000 or MORE and A USEFUL LIFE GREATER THAN FIVE YEARS.
As part of our year-end closing process, we need to record any "DISPOSALS" of capital equipment from the books of the College. A disposal occurs when the College no longer has a given piece of equipment whether through a sale, scrap, recycling, donation, etc. Please advise the Business Office as to which equipment, meeting the criteria above, your department has disposed of during the past fiscal year (July 1, 2014 - June 30, 2015).
Some examples of the typical capital equipment that meet the capitalization criteria are:
COMPUTING EQUIPMENT (i.e. Servers; not Personal Computers)
SCIENTIFIC EQUIPMENT (i.e. Spectrometers, Microscopes)
VEHICLES OF ANY NATURE
If you are aware of a piece of equipment that has been disposed of in the past fiscal year, please send an e-mail to firstname.lastname@example.org indicating as much of the following as possible:
Equipment Name/Description (provide as much detail as possible)
Vendor Name (if known)
Model and/or Serial Number (if available)
Date of Purchase (approximate dates are fine)
Purchase Price (please estimate if exact figure is not known)
Salvage or Sale Value (if any)
Date of Disposal (approximate dates are fine)
Since our year-end process is fast approaching, please advise us no later than June 30th if you are aware of any equipment disposals using the criteria given above. Also, feel free to call me at extension 8676 with any questions. Thank you in advance for your time and cooperation.