Movable Equipment

Definition

  • Title to equipment purchased with University funds (excluding Agency Funds) through the University Purchasing Department or through a retail-sales center on campus shall be considered property of The University of Iowa.
  • Equipment must meet a minimum capitalization threshold of $5,000 and have a useful life of more than one year.
  • Equipment acquired with Agency Funds (currently Funds 950 – 997) cannot be capitalized and should not be purchased with a 6730 Iact.

Policy