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What Is a Controlled Purchase?
All personal property purchased or acquired are the property of the university. A controlled asset is an item that has a cost of $500 to $4,999.99 and has a useful life of more than one year. A few examples include:
- Televisions/video players/recorders
- Desktop/laptop computers
- Data projectors
- Smartphones/tablets/other hand-held devices
- Sound systems/other audio equipment
- Unmanned aerial vehicle (UAV) drones
Visit the Texas Comptroller’s website for a complete list of controlled assets.
What Costs Are Included in Controlled Purchases?
The threshold cost of a purchase between $500 and $4,999.99 must include associated charges and fees. If the amount exceeds the threshold, then it is a capital purchase. A few examples of charges and fees include:
- Original contract or invoice price
- Freight charges and Import duties
- Handling and storage charges
- In-transit insurance charges
- Taxes and fees imposed on the acquisition
- Installation charges
- Charges for testing and preparation for use
- Costs of reconditioning used items when purchased
- Other related acquisition cost
Contact Accounting Services for assistance with controlled purchases.