Board of Regents Policy 8.206 Board of Regents Policy 8.206

Purchases and Equipment Capitalization

Regents Policy Chapter 8, Business and Finance
Regents Policy RP 8.206, Purchases and Equipment Capitalization
Effective Date:  Oct. 18, 2002
Prior Dates Amended:  Jan. 13, 1966; Oct. 20, 1978; Oct. 9, 1998; June 18, 1999; Oct. 31, 2014 (recodified)
Review Date:  August 2018

To set forth policy regarding purchases and equipment capitalization.

“Equipment” is defined as tangible, non-expendable personal property having a useful life of more than one year and an acquisition cost of $5,000 or more per unit.

    A. Purchases shall be made in the name of the university and according to law and board policy. No amounts stipulated in this section will be exceeded by parceling.

    B. Vice presidents and chancellors shall have the authority to make purchases in amounts less than $25,000 per transaction, which authority may be further delegated.

    C. Vice presidents, and chancellors may authorize the issuance of purchasing cards to be used in lieu of purchase orders for transactions not exceeding $2,500 provided the unit first establishes appropriate transaction guidelines.

    D. Equipment shall be defined as tangible, non-expendable personal property having a useful life of more than one year and an acquisition cost of $5,000 or more per unit.

Vice presidents and chancellors shall have the authority to make purchases in amounts less than $25,000 per transaction, which authority may be further delegated. See RP 8.206(C).

Vice presidents, and chancellors may authorize the issuance of purchasing cards to be used in lieu of purchase orders for transactions not exceeding $2,500 provided the unit first establishes appropriate transaction guidelines.

Office of the Board of Regents, 956-8213, bor@hawaii.edu

    A. http://www.hawaii.edu/offices/bor/

No Exhibits and Appendices found

    /S/Executive Administrator and Secretary of the Board of Regents