Wayne State University

Aim Higher

Policies-11

6.0.2 Definitions

The definitions below provide context for the use of the related terms within this document.

Award Document - A legal document, such as a grant or contract from an external sponsoring agency which provides funding to the university.

Capitalized Equipment - Equipment that is non-expendable, tangible personal property having a useful life of two years or more and a per unit acquisition cost of $5,000 or greater.

Department - Organizational unit within the university having physical control of the equipment.

Deemed Export - A release or transfer of technology or source code to a foreign national within the United States. (refer to the U.S. Department of Commerce, Bureau of Industry and Security website - www.bis.doc.gov/deemed exports).

Enhancement of Movable Equipment - A previously capitalized equipment item that is rebuilt or enhanced such that the value and/or useful life is extended.

Equipment Title/Ownership - Title to or ownership of equipment acquired with university funds is vested with the university.  Title to equipment purchased with contract or grant funds is vested in accordance with the provisions of the specific contract, grant or agency policy. This includes equipment that is provided under a grant or contract, which may be in the possession or control of a subcontractor.

Export Control Regulations - Federal laws that restrict the release of certain items, information and software to certain foreign nations in the United States or abroad; these include the Export Administration Regulations (EAR), International Traffic in Arms Regulations (ITAR), and regulations administered by the Office of Foreign Assets Control (OFAC). (refer to the Division of Research - Export Control website - www.research.wayne.edu/export-control/index.php.

Fabricated Equipment - Equipment that is built or assembled from component parts by a Principal Investigator (PI) and/or other sponsored project personnel, or any other internal or external shop department or organization.

Fixed Asset System - University accounting system which continuously maintains and tracks the inventory of movable capitalized equipment owned by or in the custody of the university. Utilized to meet the university's internal and external reporting requirements, provide property control, increase accountability and stewardship of assets, and assist in risk management.

Installment Purchases - Equipment purchased by means of scheduled periodic payments for a specific amount of money over a specified period of time.

Non-Capitalized Equipment - Equipment not meeting the university capitalization threshold (i.e., cost less than $5,000 per unit or equipment cost $5,000 or more per unit with a useful life of less than two years).

Non-Capitalized Taggable Property - Equipment with a purchase cost less than $5,000 where the provisions of the award require that the university tag the item.

Surplus or Excess Equipment - Equipment that is no longer needed by the department nor serving its intended purpose but which continues to have additional useful life.

System Component Purchases - Individual equipment and materials connected together to operate as one system.