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EQUIPMENT PROCEDURES MANUAL - page 22 / 86

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NCCCS EQUIPMENT MANUAL

II.

EQUIPMENT TRADE-IN

Before a college can make a final decision to trade-in used property, the State Surplus Property Agency (Surplus Property) should be contacted for guidance and approval.

If a college solicits competition for the purchase of a new item with a trade-in, the solicitation showing the allowance offered should be directed to Surplus Property. Prior approval by Surplus Property is required (See Agency Contacts page).

The inventory number(s) of items traded-in and the trade-in allowance must be shown on the purchase order issued for the new or replacement items.

Form NCCCS 4-11 (Request to Dispose of Capital Assets) and Form NCCCS 4- 6 (Notice of Expenditure Adjustment) should be prepared to remove items from the inventory. Action code 9 will be used to remove these items.

III.

DONATED EQUIPMENT

Donated items of equipment which have a value of $1,000 or more must be assigned a number and placed on inventory.

IV.

INVOICES

Invoices should be legible and contain description, purchase order number and invoice prices.

V.

INVENTORY OF EQUIPMENT ACQUIRED THROUGH LEASE-PURCHASE

Items acquired through a lease-purchase plan will be entered into the inventory records at the date of acquisition for the total amount the item would have cost if it had been purchased outright. Interest and finance charges will not be a part of the cost. Subsequent invoices for the same item will not be included in subsequent monthly reports. In order to balance with the DCC 2-12, adjustments will have to be made on the Form NCCCS 4-20 (Adjustments to Inventory Figures).

VI.

SALES TAX

Sales taxes paid to the N.C. Department of Revenue shall be added to the cost of the applicable fixed asset inventory numbers.

16

Oct.2001

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