Last Update Approved: November 6, 2013
Edited/Revised: July 8, 2015
Revised Effective: August 7, 2015
MGA departments that need to purchase assets, (equipment that costs in excess of $3,000) should utilize the regular purchasing process for requesting purchases. The normal purchasing rules and regulation apply including State Wide Contracts and bid requirements.
Once the purchase request has been approved by the Department Budget Manager and/or EVP of Finance & Operations, the Purchasing Office reviews the purchase request and processes the purchase as required by applicable purchasing regulations. The Purchasing Office issues the appropriate purchase order and indicates on the Purchase Order that the item is an asset that will be recorded in the PeopleSoft Asset Management module. This notation on the line item on the purchase order routes the purchase for appropriate processing as an asset management inventory item in accordance with MGA property control processes.