Capital Asset Requisition Template | INV103-1
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Capital Asset Requisition Template
The Capital Asset Requisition Template helps with authorization of capital expenditure. All purchases of assets costing more than $500 and less than $5,000 should be approved by the department manager and the Chief Financial Officer. Assets with a cost greater than $5,000 will also require the approval of the President.
An INV103-1 CAPITAL ASSET REQUISITION form should be completed and approved for all purchases. This form is to be attached to all Purchase Orders or check requests submitted to the Accounting Manager. Department managers may source the vendor for purchase of the capital assets or can submit the request to Purchasing for procurement.
Any internally constructed or donated equipment will be reported to the Accounting Manager if the item cost has a value of $500 or more. A complete description of the property, date manufactured or received, number of items, cost or estimated value and a statement that it was internally constructed or donated will be included in the report.
Capital Asset Requisition Template Details
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