11.1 State Requirements For Equipment Inventory
The University System of Georgia is required to keep an equipment inventory of all items that are nonconsumable and nonexpendable in nature, having a life expectancy of three or more years, and an item acquisition cost of $3,000 or more. Examples of these items are:
- Motor vehicles
- Mechanized and non-mechanized equipment
- Office equipment
Institutions may also include any item or items not meeting these criteria that it desires to have included in the inventory for valid management reasons.
Note: For the complete text of the law, refer to The Official Code of Georgia, numbers 50-16-160 through 50-16-161.1. Current requirements are subject to a review and possible repeal under Senate Bill 73 on 6/30/2006.