Equipment and Property
The procurement, use, and disposition of equipment and other property under sponsored projects is a shared responsibility between the user department and the Property Administration Office. When a WPI faculty member purchases an item of equipment, as currently defined in the University's Property Management Manual, proper accountability must be maintained throughout the useful life of this equipment so as to remain compliant with sponsor guidelines and/or Federal regulations.
As stated in the WPI Property Management Manual, the user department is responsible for completing all required property forms, maintaining accurate property status and communicating all activities (e.g., location and/or ownership changes, status changes, transfers), and maintaining copies of property inventory listings, forms, and purchase orders. Conversely, the Property Administration Office is responsible for keeping accurate records through its asset control procedures, ensuring compliance with Federal property regulations, non-Federal sponsor guidelines, and University policies, and assisting in the determination of minimum property liability insurance coverage. Through the combined efforts of user departments and the Property Administration Office, it is expected that all equipment purchased under sponsored projects will be effectively accounted for and managed.
The Research Accounting Office and the Office of Research Administration (ORA) also play a role in this process. The Research Accounting Office provides information to the Property Administration Office so that a reconciliation may occur between the Banner financial system (actual equipment expenditures) and the property database (booked equipment purchases). ORA is involved by having responsibility for notifying the Property Administration Office of the requirements for equipment reporting, as required by individual award terms and conditions, sponsor guidelines, and/or Federal regulations. ORA also participates with the Property Administration Office and the Research Accounting Office in the close out of awards, which can include reporting of equipment purchased with sponsor funds and/or University cost sharing funds.
Questions regarding the allowability of or the current amount of funds available for the purchase of equipment under sponsored projects should be addressed to the Research Accounting Office. For information on accountability (equipment tagging, inventories, and equipment reporting), contact the Property Administration Office.
Maintained by webmaster@wpi.eduLast modified: September 10, 2007 15:16:49