Letterhead - OSC

OFFICE OF THE STATE COMPTROLLER

MEMORANDUM NO, 2015-09

June 17, 2015

TO THE HEADS OF ALL STATE AGENCIES

Attention: Chief Administrative and Fiscal Officers and Business Managers
Subject: Capital Equipment Purchase Fund

I. PURPOSE
The purpose of this memorandum is to provide information on a provision of the Capital Equipment Purchase Fund. This memorandum supersedes Memorandum 2008-12.

II. AUTHORITY
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
Effective July 1,2015, the account coding in Core-CT for data processing equipment which has a unit price of less than $5,000 and a useful life of not less than five years is 54150 - Minor Equipment.

V. NON-CAPITALIZATION
Effective July I, 2015, data processing equipment with a unit price of less than $5,000 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 as controllable property.

VI. GENERAL
Please direct questions regarding this memorandum to the Fiscal Policy Statewide Services Unit of the Comptroller's Office at (860) 702-3440.

KEVIN LEMBO
STATE COMPTROLLER

KL:ED

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