|No. 4-31||Rev.||Date 11-08-05|
To establish rules regarding property acquired through government grants or contracts.
Property includes equipment, furniture, material and supply items.
Government Property means all property with an acquisition cost of over $5,000 owned or furnished by the Federal Government or acquired by the University with federal funds under the terms of a contract or grant.
A. Title to equipment acquired under a grant or contract may be (a) retained by the granting agency, (b) vested in the University immediately, (c) vested in the University with the agency reserving the right to transfer title to the agency itself or to another institution if the Principal Investigator transfers or (d) vested in the University upon completion of the project.
B. Principal Investigators or other persons receiving government property for which the University did not process a purchase order shall have the responsibility of notifying Property Control of all items of government property received in order that appropriate inventory records can be maintained by the University.
C. It is the responsibility of the Principal Investigator to ensure that government property is utilized according to the conditions and terms of the contract or grant.
D. It is the responsibility of the Principal Investigator to ensure that property is maintained in such a condition that the most useful life may be obtained. The Principal Investigator shall be able to apprise the property administrator or other authorized person of the condition of any government property in the Principal Investigator's control upon request.
E. The type and frequency of physical inventories and the procedures are set forth in WSU's property control system and/or by the terms and conditions of the grant.
F. Transfer of Government Property Upon Transfer of Principal Investigator
1. All transfers of government property must be cleared in advance with the appropriate government agency through OSP, in concert with the provisions of Board of Regents Policy 558.
2. Property acquired under grants or contracts from agencies which retain title to property or which reserve the right to transfer title will be transferred on receipt of instructions from the granting agency. WSU is not responsible for costs of packing, shipping, etc., except as required by the terms of the grant or contract. The Principal Investigator is responsible to request the transfer from the awarding agency with the concurrence by OSP. The Office of Property Control must release the equipment for shipping.
3. Property acquired under grants or contracts from agencies which vest title in the University immediately may not be transferred without approval of the Provost.
G. Acquisition of Excess Government Equipment
1. The University may be eligible to acquire excess property offered by the General Services Administration or other agencies, under terms of some federal grant contracts. Any property acquired by this method is subject to the preceding policies and to requirements imposed by the General Services Administration and/or other agencies.