(a) "Equipment," as used in §62.47(a)(5), is defined as an article of non-expendable, tangible personal property having a useful life of more than one (1) year and an acquisition cost which equals the lesser of:
- (1) the capitalization level established by the contractor for financial statement purposes; or
- (2) $5,000.
- (b) A contractor may use equipment paid for with OAG funds only for contract-related purposes and not for personal or non-contract-related purposes.
- (c) All costs for equipment must follow the guidelines set forth in UGMS and OMB circulars.
- (d) Grant funds may not be used to fund the purchase of vehicles.
Source Note:The provisions of this §62.52 adopted to be effective August 31, 2005, 30 TexReg 4969.