Two New Spend Categories for Capital Furniture Purchases

Two new spend categories will be used starting the new fiscal year to track Capital Furniture Purchases:  

• Furniture Capital SC0820 (individual movable furniture >$5K, such as a conference table or sofa).
• Furniture NonCapital SC0353 (furniture under $5K and cubicle units; we will not be capitalizing cubicle furniture individually).

Additional guidelines regarding Capital Furniture purchases:

• Capital Furniture must be purchased on a Purchase Order.
• As with other Capital Equipment purchases, freight and installment costs are capitalized with the asset using the same spend category, Furniture Capital SC0820.
• On grants, both Furniture Capital SC0820 and Furniture NonCapital SC0353 are excluded. For specialty lab furniture allowed on a grant, users should continue to use Equip Capital Lab SC0494 as in the past, such as for purchasing a Biosafety Cabinet.

If you have any questions, please email us at askfinance@virginiaedu