Equipment is defined as tangible personal property (including information technology systems) having a useful life of more than one year and a per-unit acquisition cost which equals or exceeds $5,000. Acquisition cost for equipment includes the price of the equipment, including the cost of any modifications, attachments, accessories, or auxiliary apparatus necessary to make it usable for the purpose for which it is acquired.
As a reminder for the use and management of equipment purchased on sponsored projects:
- Equipment should be used for its originally authorized purpose unless otherwise provided by the sponsor terms and conditions for as long as necessary
- Equipment is normally under the direction of the Principal Investigator (PI) until completion of the award
- Equipment should be properly identified and documented per sponsor and institutional requirements and guidelines
- The use and management of federally-owned property is subject to the requirements of the Uniform Guidance
- A physical inventory must be taken and the results reconciled with the property records at least once every two years
If equipment has not been tagged within 60 days of delivery, please create a ticket in ServiceNow under Financial Services and “New Capital Equipment Tag”
Please note: before transferring, selling, re-assigning, or disposing of equipment within or outside the institution, the PI submits a written request describing the intended action, along with an Equipment Release Authorization form, to Research Affairs Post Award.
Useful links:
Equipment Release Authorization Form
https://researchaffairs.llu.edu/sites/researchaffairs.llu.edu/files/docs/equipment-release-authorization-form.pdf
Policies:
Research Equipment Policy
https://llu.policytech.com/dotNet/documents/?docid=9208
Operating Procedure
https://llu.policytech.com/dotNet/documents/?docid=9210
Uniform Guidance
https://www.ecfr.gov/current/title-2/subtitle-A/chapter-II/part-200/subpart-D/subject-group-ECFR8feb98c2e3e5ad2/section-200.313
For more information, please contact:
Research Affairs Post Award at rapostaward@llu.edu or 909-558-4589.