Definition

Fabricated equipment is defined as any piece of equipment with a value of $3,000 or greater, and with a useful life of at least three years, which has been assembled from parts purchased with supply or non-inventory equipment Spend Category (SC714127 - Supplies and Material - Fabricated Equipment). This includes items purchased via a PCARD.

All Georgia Tech equipment that is assembled from parts which were not purchased under an equipment account code must be properly recorded as inventoried equipment (account range SC743*** and value of $3,000 to $4,999.99) or capitalized equipment (account range SC84**** and value equal to or exceeding $5,000.00) once completed.

Procedure

  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.

Instructions for completion of the Fabrication Form

The Fabrication Form is available on the Property Control page.

  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.

The Cost Transfer Form is available on the Grants and Contracts Forms page. Click on the Standard Forms tab.