VCOM Institutional Policy and Procedure Manual

VCOM Policy and Procedure

Policy #R006

Associate Deans should review their specific awards and consult the guidelines of the sponsoring agency and the applicable version of 2.CFR.215 prior to making final decisions. Please see the VCOM Federal Funds Procurement Policy for additional guidance. Equipment Ownership Title to equipment acquired by a grant with federal funds or non-federal funds shall be vested in VCOM subject to conditions contained in 2.CFR.215.34, Equipment.. Use after Project Period The PI shall use the equipment in the project or program for which it was acquired as long as needed, whether or not the project or program continues to be supported by federal funds. When no longer needed for the original project or program, the PI shall use the equipment in connection with its other federally-sponsored activities, in the following order of priority: 1. Activities sponsored by the federal awarding agency which funded the original project. 2. Activities sponsored by other federal awarding agencies. 3. Other VCOM uses. During the time that equipment is used on the project or program for which it was acquired, the recipient may make it available for use on other projects or programs if such other use will not interfere with the work on the project or program for which the equipment was originally acquired. First preference for such other use shall be given to other projects or programs sponsored by the federal awarding agency that financed the equipment; second preference shall be given to projects or programs sponsored by other federal awarding agencies. If the equipment is owned by the federal government, use on other activities not sponsored by the federal government shall be permissible if authorized by the federal awarding agency. During the project period, all charges for the used equipment shall be treated as program income. Inventory Control A log should be kept of all equipment purchased by an individual and/or department. This log should be available to the ORA if requested. Information needed includes:  Source of funds (include name of agency and budget number)  Date of purchase 6. P OST A WARD P ROCEDURES 6.1. ORA Post-Award Responsibilities The ORA is responsible for assisting, reviewing and approving many post-award administrative records of sponsored project expenditures. Some typical functions relating to sponsored projects include:  Assignment of sponsored project account numbers (method of payment, financial reporting requirements, and disposition of unexpended funds).  Approval of project budgets and budget changes.  Approval of faculty payroll forms.  Approval of cost transfers between budgets. Fiscal Responsibilities Upon receipt of the award notice from sponsors, a copy of the document will be sent to the PI within one week. If the PI receives the award notice, or receives information from the sponsor that award is eminent, it is imperative that the PI furnish the ORA with a copy of the notice. The PI should make an appointment to meet with the ORA  Equipment purchased  Amount of purchase  Room location of equipment

Office of Research Administration Grants Administration Policies and Procedures

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