Grant Funded Equipment
April 1, 1995
July 1, 1997
In situations where grant funds, whether private or government, are used to purchase equipment, our policies of tagging and inventorying the equipment will exist just as if University funds had been used. Our inventory records will reflect the funding agency through the use of the proper fund number so that internally and externally funded equipment can be segregated.
In situations in which a faculty member comes to the University from another institution in the middle of one or more grants and brings with him/her equipment purchased by the related grant(s), a summary of the specific equipment must be provided to the Controller's Office to allow for proper inventorying of the equipment. If a faculty member leaves the University in the middle of one or more grants and takes equipment with him/her to the new institution, a summary must be provided to the Controller's Office for the same reasons. Also, the summary would allow the University to provide the new institution with a listing of grant funded equipment the faculty member is bringing. If federal funds were used to purchase assets of $5,000 or more, the Grant Accounting Clerk will contact the granting agency, if necessary, to determine the appropriate procedure to dispose of the asset(s). This will be done at the time the fund is closed.