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Federally purchased equipment is any equipment purchased with federal funds, including pass-through to the University. Equipment can be Federally Titled or Conditionally Titled with the University.

Federally titled equipment (government property) is any equipment furnished to the university by the federal government, or equipment acquired or fabricated using funds from a federal sponsored project or contract where the agreement specifies that the title to the equipment remains with the government.

Conditionally titled equipment are items that were purchased on federally sponsored projects where the title conditionally vests with the University. In general, sponsored projects identify the title to equipment in the terms of the agreement while sponsored contracts retain federal ownership for all equipment with a cost of over $5,000.

The university is required to maintain a system to control, protect, preserve, and maintain control over federally titled and conditionally titled property. The Asset Management (Banner) system, General Ledger, inventory procedures, and surplus property procedures provide these controls, and government equipment is subject to all university Property Management guidelines, policies, and procedures. However, there are additional requirements for government property:

All Equipment

Requirements for all equipment purchased with federal funds, whether federally Titled or Conditionally Titled with the University.

• Identification of federally titled and conditionally titled property in Banner.
• Conducting annual inventory.
• Ensuring that the equipment is used for award purposes until the award ends or the equipment is no longer needed.
• Ensuring that equipment purchased with federal funds is made available for use on other federally funded programs.
• Ensuring that adequate records are retained, including:
  • Asset descriptions
  • Asset serial or identification numbers
  • Asset source of funding
  • Title holder
  • Acquisition date
  • Asset cost
  • Percentage of federal participation
  • Asset location
  • Asset use
  • Asset condition
  • Asset disposition data
• Ensuring that disposals are conducted in accordance with federal requirements.

Federally Titled Equipment

Requirements specific to Federally Titled Items only:

• Identification of the Government Identification/Tag or National Stock number in Banner.
• Identification of the Federal Supply Code or Federal Supply Classification in Banner.
• Identification of the Federal Award Identification Number (FAIN) in Banner.
• Marking government property as such.
• Annual reporting on government property.