This does not include your office supply closet, laboratory supply closets, etc. These areas will have to be reported separately. In the past it has been required that we physically count every item. It is not consumed in the normal course of business. Its useful life exceeds two years.
Minor equipment excludes any property listed on the capitalized equipment inventory.
You should have a detailed list of all minor equipment purchased or should take a physical inventory of minor equipment located in your area of responsibility. This includes desk, bookshelves, files, desk chair and side chair, computer, printer, stapler, paper trays, etc. If you do not have a detailed list of minor equipment, for purposes of this year s valuation you may want to use this estimate. The Purchasing Department will evaluate your estimate based on values reported in previous years and purchases made to determine the usability of your estimated value. If your department has failed to maintain an accurate listing of minor equipment, you should use the format of the provided worksheet and start immediately.