16-SUBCONTRACTOR HELD PROPERTY

16.20 SUBCONTRACTOR ACQUIRED PROPERTY
EFFECTIVE
6/1/00		LAST UPDATE
12/01/02
PURPOSE: To provide for the proper control of Subcontractor acquired property with title vested in the sponsor, including the government.
AUTHORITY: Powers and duties of the University President, ABOR Policy 3-801 and 3-802

Below authority applies ONLY to Federal Property (acquisition dollars or title):

48 Code of Federal Regulations 45.502 and 45.510
Office of Management and Budget Circulars A-110 and A21
POLICY: When a subcontractor acquires property with title vesting in the sponsor, including the government, this property is to be included in the University's Fixed Assets System (FFX) records.
PROCEDURE:
    RESPONSIBILITY ACTION
    PRINCIPAL
    INVESTIGATOR
    1. Upon receipt of a Subcontract property acquisition report where title to the property vest in the sponsor, including the government, the Principal Investigator shall forward the report to his/her Department Business Office.
    DEPARTMENT
    BUSINESS OFFICE
    1. Prepare and forward a memorandum to Property Mannagement-FSO requesting an A or D-tag (s) for the property acquired by the Subcontractor. Sufficient information, including the FRS account number of the sponsor award to the University, shall be added to the University’s Fixed Assets System. A copy of the Subcontractor’s property acquisition report is to be attached.

    2. Forward a copy of the memorandum to the Sponsored Projects Services Property Administrator.
    PROPERTY
    MANAGEMENT-FSO
    1. Enter the Subcontractor acquired property in the University Fixed Assets System (FFX) and assign title as indicated in the Property Titleholder Database for the FRS account number.

    2. Send the A or D tag(s) and a U.S. Government property label, if government titled property, to the Department Business Office.
    DEPARTMENT
    BUSINESS OFFICE
    1. Forward the A or D tag(s) and, as applicable, the U.S. Government Property label to the Subcontractor with instructions to affix to the acquired property.

CROSS REFERENCE: New Equipment Acquisition

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