17.10 Sponsored Account Property Title

Page last updated

12/06/2016

PURPOSE:

To provide direction to university departments regarding the determination of owner and titleholder to property acquired on sponsor funds or provided by the sponsor.

AUTHORITY:

Powers and duties of the University President, ABOR Policy 3-801 and 3-802

Authority below applies ONLY to Federal Property (acquisition dollars or title):

48 Code of Federal Regulations (CFR) Part 45
2 Code of Federal Regulations (CFR) Part 200 (“Uniform Guidance”)

POLICY: Sponsored Projects Services (SPS) is responsible for reviewing all grants, contracts, and agreements awarded by a sponsor to the University. SPS will determine the titleholder of equipment and other property purchased by the University with sponsor funds and the property reporting requirements to the sponsor. The sponsor's property provisions are to be summarized in the SPS Equipment Title and Reporting database.

The Financial Services Office (FSO) – Property Management team shall use the titleholder information from the SPS Equipment Title and Reporting database to assign ownership to all equipment and other property purchased for sponsored projects. This information will be entered in the University's Capital Asset Management (CAM) module.

The Principal Investigator (PI) is responsible for reporting equipment and other property received from a sponsor in support of a grant, contract, or agreement. Equipment and other property furnished by a sponsor in support of a grant, contract, or agreement with the University will be titled to the sponsor, unless otherwise directed by SPS.

PROCEDURE

I. UNIVERSITY ACQUIRED, SPONSOR FUNDED EQUIPMENT

RESONSIBILITY	ACTION
SPS PROPERTY ADMINISTRATOR	Review grants, contracts, and agreements awarded to the University in order to determine the property titleholder and property reporting requirements for any equipment and other property acquired by the University with sponsor funds. Record the titleholder and property reporting requirements in the SPS Equipment Title and Reporting database. When a sponsor grant, contract or agreement with the University lacks property title and property reporting provision, the default title will be the University with no property report required.
FSO-PROPERTY MANAGEMENT	Enter equipment and other property purchased on sponsored accounts upon receipt in the CAM module, and assign ownership to the asset as directed in the SPS Equipment Title and Reporting database.

II. SPONSOR FURNISHED EQUIPMENT

RESPONSIBILITY	ACTION
PRINCIPAL INVESTIGATOR	Notify both FSO-Property Management and the SPS Property Administrator of the receipt of the sponsor provided equipment and other property via the Property Management Equipment Receipt Form. Attach a copy of the sponsor’s shipping or other related documents to the form.
SPS PROPERTY ADMINISTRATOR	Determine the titleholder and reporting requirements applicable to the sponsor provided equipment and other property, and record it in the SPS Equipment Title and Reporting database.
FSO-PROPERTY MANAGEMENT	Enter the sponsor provided equipment and other property in the CAM module and assign the titleholder based on the information in the SPS Equipment Title and Reporting database, or as otherwise directed by the SPS Property Administrator.