Equipment is defined as an item with a value of $5,000 or more that has a useful life of more than one year. The cost of an item includes the cost of any expenses necessary to have the item in working order. These expenses include installation, shipping, modifications, attachments, accessories, or apparatus necessary to make it usable for the purpose acquired.
The purchase requisition should provide detail such as manufacturer, model number, vendors who can supply the product and it should note any required features/specifications.
If the equipment is purchased with state and Research funds, the equipment will become the property of the State of New York. A State purchase requisition must be submitted.
Both State and Research accounts must be noted on the requisition and be accompanied by the appropriate signature for the State and Research accounts. A Research Foundation purchase order is issued to the state for the Research Foundation portion of the purchase. (example, "To pay State Account _______ for purchase of the attached Equipment"