Fabricated equipment is any item valued at $3,000 or more with a useful life of at least three years that is assembled from parts purchased using supply or non-inventory equipment spend categories (SC714127 - Supplies and Material - Fabricated Equipment), including purchases made with a PCard.

Once completed, all fabricated equipment must be recorded as either inventoried equipment (SC743***, valued between $3,000 and $4,999.99) or capitalized equipment (SC84****, valued at $5,000 or more), regardless of the account code used to purchase the individual parts.

Steps for Equipment Fabrication:

  1. The Equipment Custodian (Professor/PI/Researcher) informs the Cost Center property coordinator to tag the asset.
     
  2. Cost Center will submit Fabricated Equipment Report to Property Control along with all supporting documents via Service Now.
     
  3. Property Control will reconcile Material & Supplies purchase lines from General Ledger to match fabricated equipment Total cost.
     
  4. Property Control will manually register the fabricated equipment as an asset in Workday and notify the Cost Center of the fabricated equipment Asset ID in Workday.
     
  5. Property Control will forward fabricated equipment Report to Grants & Contracts for a Cost Transfer from Material & Supplies Spend Category to an Equipment Spend Category.

 

How to Complete the Fabricated Property Report

To complete the Fabricated Property Report:

  1. Enter the scientific name of the equipment, if applicable. Enter the common name of the equipment. Enter which name should be placed in the description field of the inventory records. This is the name, which will appear on equipment reports to the department.
     
  2. Check if the title to the equipment belongs to the state or another agency.
     
  3. Enter the name and telephone number of the equipment custodian for the department.
     
  4. Enter the various cost components of the equipment. This includes materials purchased, external labor cost, transportation and any other costs involved. Enter the total cost.
     
  5. Check whether the above costs are for a new item of equipment or is added value (upgrade) to an existing item of equipment.
     
  6. Enter Georgia Tech CAE Tag number of existing equipment if item is an upgrade.
  7. If federal funds were involved in the construction of the equipment, the amount MUST be identified along with the sponsoring agency.
     
  8. Enter the name of the building, the room number and the department, which has physical custody of the equipment.
     
  9. The form must be signed and dated by the Department Head or his/her designee. Also, enter the phone number of the Department Head or designee.
     
  10. Submit the completed form with supporting documentation and a completed Cost Transfer Form to Property Control via ServiceNow. A Cost Transfer Form must be completed in order to correct the Spend Categories.