Equipment Trust Fund (ETF)
The Higher Education Equipment Trust Fund (HEETF) was established by the General Assembly to provide funding to purchase equipment needed for instruction and research. The State Council of Higher Education for Virginia (SCHEV) works together with the Virginia College Building Authority (VCBA), and the Department of Treasury to administer HEETF through the financing of Trust Funds and the issuance of revenue bonds.
Goals & Objectives
Replacing General and Obsolete equipment is the primary focus for the Trust Fund; with an emphasis on accomplishing the following goals outlined by SCHEV:
- Significantly reduce the amount of obsolete technology and equipment
- Provide every student with access to an appropriate level of information and technology
- Establish a statewide network that supports and encourages sharing and cooperation
- Provide every faculty member with appropriate equipment and training to use technology in support of teaching and learning
- Support faculty in the introduction of new ways of instruction and learning, provide courses customized to student needs, and take advantage of distance-learning opportunities
- Install high quality, easy-access, network-deliverable student support services, such as transcripts, grades, class scheduling, and account balance and payment information
- Install management information systems that are flexible and directly accessible to users to help support administrative restructuring and cost-containment
Please see current ETF Procedures for full details
- Each item and/or system must cost $500 or greater and not be considered an excluded item from the HEETF "Exclusion Listing"
- In addition to the items identified in the exclusion list, consumables, supplies or any equipment not expected to last the required retention are not permitted as an ETF purchase.
- Items being purchased must match the description associated with the ETF authorization number assigned.
- Budget Unit Directors and ETF Coordinators must monitor and their ETF Budgets, ensure the validity of outstanding purchase orders, and stay within their overall ETF Budget Allocation.
- ETF Computing Equipment (Desktops, Laptops, Computer Monitors, Servers, Storage Devices, iPads, and Printers) must remain on the active inventory for a minimum of 3 years.
- All other ETF equipment must remain on the active inventory for 7 years.
- In addition, systems must remain intact throughout the retention period and shall be disposed of as a single system.
- An assemblage of instruments, modules, and components that together operate as a single functional unit that interdependently perform a specific task and will remain assembled and operate as a single functional unit for the entirety of its useful life. The system components must be required for the system to perform its specific task.
- Example: The purchase of an iPad, chassis and wheels. Together these items combine to form a Robot. The chassis and wheels form the framework of the robot and the ipad is used for the robot to function. They interdependently work together to form a single functional unit.
- Components of a system must be purchased using one ETF number and entered on separate lines of the purchase order referencing the corresponding ETF number of the system. Every effort should be made to order all components of the system from one vendor.
- When multiple vendors are absolutely required, please note in the comments section of the requisition that "system involves multiple purchase orders"; and notify Fixed Assets.
- Once an assemblage of components are deemed a "system", they cannot be separated for partial disposal. This standard applies even when a system includes components that individually may have different retention periods (Computing and Non-computing components in a single system).
SEPTEMBER 27, 2019
- Submit FY20 ETF list to SCHEV
NOVEMBER 1, 2019
- Department units begin submitting requisitions to procurement services for FY20 ETF items
MARCH 6, 2020
- All FY20 requisitions (eVA and Paper) received by Procurement Services
JUNE 19, 2020
- All FY20 items and system components received and invoiced
- Includes high tech research equipment requiring calibration/ installation/ software fine-tuning.
AUGUST 31, 2020
- All FY20 ETF invoices paid
For assistance with:
- ETF Policy / Guidelines
- Approved Authorization Lists
- List Modifications
- Budget Adjustments
For assistance with:
For assistance with:
- Inventory Control
- Asset Tagging