PROPERTY ACQUIRED THROUGH GOVERNMENT GRANTS OR CONTRACTS

	PROPERTY ACQUIRED THROUGH GOVERNMENT GRANTS OR CONTRACTS	No. 4-27	Rev. 12-12-85
		Date 8-17-77

OLD VERSION

I. REFERENCES

PPM 5-27, Utilization and Disposal of Excess Property

II. DEFINITIONS

A. Property

Includes equipment, furniture, material and supply items.

B. Government Property

All property with an acquisition cost of over $150 owned or furnished by the Federal Government or acquired by the University with federal funds under the terms of a contract or grant.

III. POLICY

A. Acquisition/Government Property

1. Title to equipment acquired under a grant or contract may be (a) retained by the granting agency, (b) vested in the University immediately, (c) vested in the University with the agency reserving the right to transfer title to the agency itself or to another institution if the principal investigator transfers or (d) vested in the University upon completion of the project.

2. The University acts as a trustee for the granting agency for equipment purchased under a grant or contract.

B. Receipt/Government Property

Principal investigators or other persons receiving government property for which the University did not process a purchase order shall have the responsibility of notifying the Office of Property Control of all items of government property received in order that appropriate inventory records can be maintained by the University.

C. Utilization/Government Property

It is the responsibility of the principal investigator to ensure that government property is utilized according to the conditions and terms of the contract or grant.

D. Maintenance

It is the responsibility of the principal investigator to ensure that property is maintained in such a condition that the most useful life may be obtained. The principal investigator shall be able to apprise the property administrator or other authorized person of the condition of any government property in the principal investigator's control upon request.

E. Physical Inventory

The type and frequency of physical inventories and the procedures are set forth in the University property control system and/or by the terms and conditions of the grant.

F. Transfer of Government Property Upon Transfer of Principal Investigator

1. All transfers of government property must be cleared in advance with the appropriate government agency through the Office of Grants and Contracts.

2. Property acquired under grants or contracts from agencies which retain title to property or which reserve the right to transfer title will be transferred on receipt of instructions from the granting agency. The University is not responsible for costs of packing, shipping, etc., except as required by the terms of the grant or contract. The principal investigator is responsible to request the transfer from the awarding agency with concurrence by the Office of Grants and Contracts. The Office of Property Control must release the equipment for shipping.

3. Property acquired under grants or contracts from agencies which vest title in the University immediately would not be transferred without approval of the President's Council.

IV. ACQUISITION OF EXCESS GOVERNMENT EQUIPMENT

The University may be eligible to acquire excess property offered by the General Services Administration or other agencies under terms of some federal grants and contracts. Any property acquired by this method is subject to the preceding policies and to requirements imposed by the General Services Administration and/or other agencies.