A purchase of equipment is considered a trade in when one or more pieces of existing equipment are given to the vendor for a specified dollar amount discount.  If the total cost of the new purchase (paid amount plus discount amount) is $5,000 or more, the new purchase must be tagged and inventoried. 

Assets that do not meet the state's capitalization policy but that an agency considers particularly vulnerable to loss, thus subject to special property control.  At the University, this includes all weapons, firearms, and permanently attached accessories such as rifles, pistols, flare guns, net guns, tasers, rifle scopes, signal guns, line-throwing equipment, and animal control devices.

The documented use of materials or equipment in the business process compared to the planned use.

When applied to material and property, use is engaging the asset or material into the business process for value.

The physical inventory of University owned assets with a total cost greater than $5,000.  These inventories are distributed to campus in early May of each non-biennium year and are due back to the Equipment Inventory Office by August 31st of the same year. 

Equipment item brought into the University or department from another university, agency, or another University department. Equipment transferred in is treated as equipment if it meets the equipment definition. University departments must approximate the fair market value of equipment transferred in at the time of receipt. Equipment that has an estimated fair market value of $5,000 or more, with a life expectancy of more than one year, must be tagged and inventoried.

Items purchased from the Surplus Property Office Warehouse.  These are viewed as being acquired from an outside vendor.  They are considered equipment if they meet the equipment definition; current market value of $5,000 or more and an original life expectancy of more than one year.

The physical inventory of Sensitive Inventory Items (Small and Attractive Assets) regardless of cost.  These inventories are distributed to campus in early May of each non-biennium year and are due back to the Equipment Inventory Office by August 31st of the same year.

A University of Washington purchasing option.  It consists of a Visa charge card utilized for most business related purchases, but it should never be used for personal expenditures.  The card can purchase items up to $3,300 per transaction.  The system includes an online (PaymentNet) method for transaction reviews and budget reallocation.  It is available to any University staff or faculty with appropriate authorization from their Department Head and the ProCurement Card Administrator.

Combining certain items together as a system (one inventorial asset) as allowed by State and/or University policy.