Asset Ownership & Transfer Policy for Federal Grant Purchases

Tags asset

Summary

Explanation of asset ownership for computers purchased with federal grant funding and the asset transfer policy if Principal Investigator (PI) leaves UM.

Policy 

When equipment is purchased on a federal grant, the title (ownership) of the property vests in the University unless explicitly defined otherwise in the award agreement. It is expected that the equipment will be used for that grant during the duration of the project, and can continue to be used in research after the conclusion of the project. If the PI resigns, the equipment continues to be property of the University and LSA Technology Services Desktop Support will complete a security assessment to determine continued value to the owning department. If any asset has reached end of life as defined by LSA TS, it will be processed for Property Disposition. If any asset continues to meet security standards, the owning department has first right of refusal on redeployment. Asset transfer requests must meet the conditions outlined in the scenarios below before receiving approval.

Please note: As outlined in the Record Retention Periods policy, records for property and equipment acquired with federal funds shall be retained for seven (7) years after final disposition of such property and equipment.  

Scenarios

Project Completed: PI continues to conduct research at UM

  • The computer(s) remains University property
  • The PI can continue to use for research until the machine(s) has reached end of life, as defined by LSA Technology Services Information Security Policy

Project Completed: PI resigns

  • The computer(s) remains University property
  • LSA Technology Services Desktop Support works with the PI to retrieve all computers and provide an assessment of assets to the department
    • If assets are no longer able to adhere to defined security policy, they will be processed and sent to Property Disposition
    • If assets can continue to securely operate as defined by LSA Technology Service policy, Desktop Support will coordinate with the department on redeployment
  • If the PI requests to transfer equipment to a new institution, the following conditions must be met:
    • The department Chair confirms that the equipment is no longer needed by the unit and approves a transfer
    • The new institution is willing to accept the equipment
    • The assets are declared surplus and the proper process for purchase is followed in coordination with the Property Disposition office
  • Further guidance can be found under LSA's Transition Policy: Equipment & Other UM Property as well as ORSP's guidance on Transfers and Dispositions of Property

Project Ongoing: PI resigns

  • The University will approve a transfer of equipment if the following conditions are met:
    • The grant which funded the initial purchase is being transferred to a new institution and this new institution is willing to accept the equipment
    • The department Chair confirms that the equipment is no longer needed by the unit and approves a transfer
    • This should be coordinated through Property Disposition and the appropriate sanitization and paperwork will need to be completed
  • If these conditions are not met or the departing PI does not wish to transfer equipment:
    • If assets are no longer able to adhere to defined security policy, they will be processed and sent to Property Disposition
    • If assets can continue to securely operate as defined by LSA Technology Service policy, Desktop Support will coordinate with the department on redeployment
  • Further guidance can be found under LSA's Transition Policy: Equipment & Other UM Property as well as ORSP's guidance on Transfers and Dispositions of Property
Print Article