• Property Management Manual
  • Introduction
  • What is Equipment?
  • Equipment Classifications
  • AM's Role in Property Management
  • Department's Role in Property Management
  • Tagging Procedures
  • Updating Information
  • Moves / Relocations / Transfers
  • Unlocated Property
  • Property Transfered to Another Department
  • Transfering Property to Another Educational Institution
  • Employment Termination
  • Surplus Equipment Policy
  • Equipment Disposition
  • Equipment Purchased with External Funds
  • Disposition of Federally-Owned Property
  • Property Inventory
  • Composition of the Database
  • Reports Available
  • Glossary of Terms
  • Forms

Equipment Classifications

A. Gift to WPI (Gifts Other Than Money -- GOTM)

Equipment donated to WPI. University Relations has created a resource manual which provides guidance regarding how to process gifts to WPI titled "Gift Policies and Procedures Manual." Questions regarding procedures for proper handling of gifts to WPI University should be directed to the Vice President for University Relations and Support at x5607 or the Manager of Gift Accounting and Records at x5607.

B. WPI Purchased

Equipment purchased with University funds.

C. Purchased With Federal Funds

Equipment purchased with federal funds.

1. Title Vests With the University

In accordance with federal regulations (Property Standards of OMB Circular A-110) equipment purchased with federal funds must be used for the intended purpose for the duration of the sponsored project. If the award on which an item was originally purchased is still active, the proceeds from the sale of the item must be credited to the sponsored project account and may be used towards furthering the goals and objectives of the sponsored activity. Although most items purchased with federal funds are exempt from further obligation to the government, many federal agencies (such as Department of Health and Human Services, Department of Energy, National Aeronautics and Space Administration and Army) retain the right to transfer title of equipment for 120 days after the expiration of the project period for grants and up to a full year for contracts.

2. Federally-Owned

Equipment under the University's control for which retention of title is required by the Federal Government.

D. Purchased With Non-Federal Funds

Equipment purchased with non-federal funds. Title will be determined in accordance with the sponsor agreement.

E. Equipment On Loan

Equipment on loan to the University in which title vests with another organization.

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Last modified: May 29, 2007 11:08:18