Guidance for purchasing capital equipment
Statement of Need/Specification of Requirement
It is important when buying equipment to identify and plan your equipment purchasing requirements as early as possible. Even when a need arises suddenly for an equipment and funding is sought either from Chest, the Research Councils or other grant funding organisation’s, a thoroughly prepared Statement of Need (SON) or Requirement (SOR) stands the best chance of securing funding required and should set out the following:
- the benefits expected from the equipment.
- the total costs of ownership over the whole of its operational life, covering acquisition costs, running and disposal, and
- how the acquisition will promote the institution’s objectives.
Advice and support
Where the equipment to be purchased is valued in excess of £100,000.00 (both single and/or aggregated purchases), University Finance Regulations, Section 4 (Expenditure) paragraph 18.4 require that Head of Procurement (Finance Division, Procurement Services) must be contacted to provide consent and advice e.g. on any statutory procurement requirements such as the EU Procurement Directive or advice on Research Councils grant compliance requirements.
The following guide gives more information on purchasing equipment, including details on the Wellcome Trust equipment funding procedures.