... Procurement Card

Procurement Card Procedures
Capital & Controlled Asset Purchases with the Procurement Card

All Capital and Controlled Purchases are required to be entered into PeopleSoft as a POS requisition. The entire purchase must be entered in the requisition, with a cost breakdown for each item.

Capital Assets Management (CAM) must be notified of all capital and controlled asset purchases within 48 hours of the purchase to insure proper coding, tagging and reporting. A detailed price breakdown such as sales receipt, invoice, quote or packing slip with price listing (only one) from the vendor is required on all capital and controlled purchases and must be forwarded to CAM fax# 713-500-4703. It will be imaged and retained for the life of the asset. Only one is required and a copy will suffice. The original receipts are to be kept in the department file as support to prevent any Audit findings.

Asset Information Form

Definitions of Capital & Controlled Assets

A Capital Asset is defined as property with a single unit value of $5000 or greater and an estimated useful life of more than one year.

Items	Account
Computer Equipment	67379
Computer Software	67387
Furniture Equipment	67373
Other Motor Vehicles	67372
Passenger Cars	67371
Telecommunication Equipment	67512

Controlled Assets are required to be tracked due to the sensitive nature of the equipment. They are defined below and have a cost threshold from $500 to $4999.99 (except handguns).

Items	Account
Desktop CPU, Portable CPU (laptop, handheld), Printer (not portable)	67378
Projectors, Camera, VCR, Stereo, Television	67374
Hand guns, Rifle (regardless of cost)	67374

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Last updated February 7, 2007