• Any individual piece of equipment costing more than £100,000. Component parts worth less than £100,000 individually but which make up a single functionally-dependent asset over £100,000
• Land and building projects costing more than £150,000 (any projects below these values will be classed as revenue)

The definition is, however, subjective and it is possible that projects above these thresholds (primarily land & buildings) are not considered to be capital in nature but instead are classified as revenue. A key factor in deciding the nature of a project is usually whether the project provides increased value to the University rather than maintenance of value (see additional details below).

• New business initiatives
• Property and equipment leases
• Other agreements that commit the University of Manchester to significant expenditure which is not capital in nature