11.1 State Requirements For Equipment Inventory
(Last Modified on February 8, 2015)
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.↑ Top