How to Account for Trade-ins

[Business Affairs Office News]

Good afternoon,

The Business Affairs Office (BAO) Property Control Department would like to remind campus departments of their responsibilities regarding trade-in of University of Oregon (UO) equipment.

Equipment includes:


*         Capitalized equipment (generally $5,000 or greater and has a useful life of greater than one year)

*         High-risk and other minor equipment (generally less than $5,000 or has a useful life of less than one year)

*         Vehicles

*         Vessels

Trade-ins include, but are not limited to:

*         Capitalized equipment for capitalized equipment

*         Minor equipment for capitalized equipment

*         Capitalized equipment for minor equipment

*         Minor equipment for minor equipment

Before trading-in equipment, please note:

*         Sponsored Project Services approval must be obtained when trading-in equipment purchased with sponsored funds

*         Gifted equipment must be reviewed to ensure no restrictions for trade-in exist

*         A cost-benefit analysis of asset(s) to be traded-in should be performed.  Things to consider:

o   Would the use of the equipment by a UO department outweigh the trade-in value?

o   Would another UO department be willing to purchase the equipment?

o   Is trading in the equipment the most efficient and effective method of disposal?

After trading-in equipment:

*         In addition to the standard document text in the Banner invoice please list:

o   The description and asset number (if applicable) of the equipment being traded in

o   Amount of trade-in value for each piece of equipment

*         Please complete and submit an Asset Maintenance Form<forms.uoregon.edu> to the Property Control Department

Thank you,

BAO Property Control Department
Molly Lockhart, 6-1250, mlockhar at uoregon.edu<mailto:mlockhar at uoregon.edu>
Christina Green, 6-3190, cvgreen at uoregon.edu<mailto:cvgreen at uoregon.edu>

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