17-TITLEHOLDER

17.10 SPONSORED ACCOUNT PROPERTY TITLE
EFFECTIVE
6/1/00		LAST UPDATE
12/01/02
PURPOSE: To provide direction to university departments regarding the determination of owner and titleholder to property acquired on sponsor funds or provided by the sponsor.
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 45.5
Office of Management and Budget Circular A-110

POLICY: Sponsored Projects Services is responsible for reviewing all grants, contracts and agreements issued by a sponsor to the University to determine the titleholder of equipment purchased by the University with sponsor funds and the property reporting requirements to the sponsor, if any. The sponsor's property provisions are to be summarized in a Property Titleholder and Reporting Database. The database is to be continuously updated.

Property Management-FSO shall use the titleholder information from the Property Titleholder and Reporting Database to assign ownership to all items of capital equipment purchased on Sponsored Projects and entered in the University's Fixed Assets System (FFX).

Principal Investigators are responsible for reporting equipment that they received from a sponsor in support of their grant, contract, or agreement. Property furnished by a sponsor in support of their grant, contract or agreement with the University will be titled in the sponsor, unless other wise directed by Sponsored Projects Services.

PROCEDURE:

  1. UNIVERSITY ACQUIRED, SPONSORED FUNDED EQUIPMENT

    SPS PROPERTY
    ADMINISTRATOR
    1. Review all grants, contracts and agreements awarded to the University and determine the property titleholder and property reporting requirements on any property acquired by the University with sponsor funds. Record the titleholder and property reporting requirements in the Property Titleholder and Reporting Database.

    2. When a sponsor grant, contract or agreement with the University lacks property title and property reporting provision, the default title will be the University with no property report required.
    PROPERTY
    MANAGEMENT-FSO
    1. As equipment purchased on Sponsored accounts is received and entered in the Fixed Assets System (FFX), assign the ownership to the asset as directed in the titleholder information in the Property Titleholder and Reporting Database.

  2. SPONSORED FURNISHED EQUIPMENT

    PRINCIPAL
    INVESTIGATOR
    1. Notify both Property Management-FSO and the SPS Property Administrator of the receipt of the sponsor provided equipment. Include a copy of the sponsor’s shipping document and the value of each item of equipment.
    SPS PROPERTY
    ADMINISTRATOR
    1. Determine the titleholder and reporting requirements applicable to this sponsor provided equipment and record in the Property Titleholder and Reporting Database.
    PROPERTY
    MANAGEMENT-FSO
    1. Enter the capital equipment items in the University’s Fixed Assets System (FFX) and assign the titleholder based on the information in the Property Titleholder and Reporting Database, or as otherwise directed by the SPS Property Administrator.

    CROSS REFERENCE:

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