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E1 0 41 Page 4 of 12 ~DOK 13 ;t~f 910 12. Equipment is a type of fixed asset consisting of specific items of property that: (1) are tangible in nature; (2) have a life longer than one year; and (3) have a significant value. a. For Budgeting and Reporting Purposes 1. Equipment purchases meeting the above definition and having an acquisition cost of $500 or more must be budgeted and reported in Line Item 5000. 2. Women, Infants and Children Program All medical equipment and all other equipment with an acquisition cost of $500.00 or more must be budgeted and reported in Line Item 5000. b. For Inventory Purposes 1. Equipment must be accounted for in accordance with Local Government Accounting System Procedure No. 15. 2. Women, Infants and Children Program All medical equipment and all other equipment with an acquisition cost of $500.00 or more must be inventoried with the Division of Maternal and Child Health. Cameras and accessories, calculators, projectors, tape recorders, dictating equipment, video equipment and accessories, computers and accessories and computer software with a cost of $100.00 or more, and all books and films regardless of cost must be recorded on the Fixed Asset System. c. For Prior Approval Purposes 1. Equipment purchased or equipment leased where there is an option to purchase with State/Federal funds must receive prior written approval from the appropriate Division, Section, or Branch when_ the acquisition cost exceeds $500.00. 2. Women, Infants and Children Program All medical equipment and all other equipment with an acquisition cost of $500.00 or more must receive prior approval from the program office. 3. Equipment purchased with program income generated by the expenditure of Title X Family Planning Funds with an acquisition cost of $500.00 or more must receive prior written approval from the program.