STATE OF CONNECTICUT
THE STATE COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106-1775
MEMORANDUM NO. 2008-12
April 17, 2008
TO THE HEADS OF ALL STATE AGENCIES
|Attention:||Chief Administrative and Fiscal Officers, and Business Managers|
|Subject:||Capital Equipment Purchase Fund|
The purpose of this memorandum is to provide information on a provision of the Capital Equipment Purchase Fund. This memorandum supersedes Memoranda 2001-61 and 2001-61a.
The Capital Equipment Purchase Fund is authorized pursuant to Section 4a-9 of the Connecticut General Statutes.
III. PURCHASE OF DATA PROCESSING EQUIPMENT
A provision of Section 4a-9 authorizes agencies to use Capital Equipment Purchase Fund dollars for the procurement of data processing equipment under $1,000. "…a state agency may purchase necessary data processing equipment that has a unit price of less than one thousand dollars from the Capital Equipment Purchase Fund …, provided such equipment has a useful life of not less than five years."
IV. ACCOUNT CODING
The account coding in Core-CT for data processing equipment which has a unit price of less than $1,000 and a useful life of not less than five years is 54150 - Minor Equipment.
Data processing equipment with a unit price of less than $1,000 and a useful life of not less than five years which is procured with Capital Equipment Purchase Fund dollars and coded to 54150 will not be capitalized. It is recommended that such items be designated controllable property.
Please direct questions regarding this memorandum to the Fiscal Policy Division of the Comptroller's Office at (860) 702-3440.
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