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Accounting Technology

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EQUIPMENT TRUST FUND (ETF)

The Equipment Trust Fund Program administered by SCHEV provides an additional funding source that allows higher education institutions to purchase equipment. Equipment purchased with Trust Fund monies is not owned by the University, but is tied to leasing agreements with the VCBA. Once a leasing agreement has been satisfied (for a particular allocation), ownership passes to the University. In addition to general rules applicable to all equipment, specific guidelines apply to the acquisition, maintenance, and disposal of ETF equipment. Failure to satisfy these requirements could jeopardize future allocations of ETF monies. Please refer to Section 6005 of the Financial Procedures Manual for more information.


SPECIAL NOTES:  
Early ProcessETF equipment can be purchased “early” (or prior to SCHEV approval in October) if the equipment has been previously approved by SCHEV (purchased in previous years). A list of pre-approved items is incorporated into the ETF–Early Purchase form (link below).  All ETF–Early Purchase forms must be submitted to Kathy Seal (sealkh@jmu.edu) by e-mail before 5:00pm usually the last Friday of August.  The official date will be published on the calendar.  You can continue to submit orders for this equipment in eVA throughout the month of September if not done already.

NOTE: The early purchase process does not occur every year. A decision is made by upper management each year as to whether equipment will be purchased before October.

Pending Approval ProcessETF equipment requests that are not purchased “early” or requests for equipment needing review by JMU/SCHEV can be submitted for review during the month of August. The actual dates will be published when it is finally determined. Requests are reviewed against the criteria set forth in the ETF policy and procedures manual. They should be submitted to etf@jmu.edu Attn: Courtney Hodges on the ETF – Pending Approval form (see link below). Please provide any additional information to aid in the review and evaluation for these items. After requests have been reviewed, items will be submitted to SCHEV in September. Notice of authorization from SCHEV to proceed with approved ETF purchases can be expected as early as mid October.


"Early" Process

Pending Approval Process

Basic Workflow, Rules & Regulations, and Requisition Requirements Basic Workflow, Rules & Regulations, and Requisition Requirements
Early Purchase Form
(equipment request form)
Pending Approval Form
(equipment request form)
Instructions
for completing the Early Purchase form
Instructions
for completing the Pending Approval Form

Manual Requisition for bulk orders ONLY ETF Calendar When can I surplus my equipment?????

Any questions relating to purchases and purchase qualifications should be directed to Kathy Seal at 540.568.7078 or sealkh@jmu.edu.



EQUIPMENT TRUST FUND CONTACTS

Employee Function
Courtney Hodges
Budget Management
Contact Info
  • Initial memo to Dean's
  • Receives final requests from departments
  • Compiles list for SCHEV
Kathy Seal
Accounting Technology
Contact Info
  • Issues reference #'s for early purchases
  • Reviews and approves Equipment Trust Fund requisitions
  • Monitors department expenditures to stay within allocations
Judy Murphy
Fixed Assets
Contact Info
  • Fixed Assets Inventories
Diane Hinton
Fixed Assets
Contact Info
  • Surplus of ETF equipment


Items Excluded from ETF Funding

  • Library books, films, videotapes and library materials
  • Microfilm collection and materials
  • Library shelving
  • Office appurtenances (blinds, carpet, file cabinets and similar items)
  • Office furniture (desks, chairs, tables and similar items)
  • Transportation equipment
  • Equipment normally affixed to a building or functional as a part of an operating system of a building
  • Climate control and security systems
  • General telecommunications equipment
  • Building
  • Equipment with a useful life of less than 7 years (3 years for computers)
  • General applications software (Microsoft Office, Adobe Acrobat, etc.)
  • Items costing less than $500
  • Used equipment