What is equipment disposition?
Disposition. Dispositions of equipment result from declarations as surplus property, trade-ins, cannibalizing for parts, or transfers to another institution associated with a departing faculty member. Surplus property must be transferred to the Surplus Department for appropriate disposition.
What is considered research equipment?
Research equipment is apparatus used primarily for research that meets the definition of equipment found in Policy 809. It may be purchased as a complete unit, donated/loaned by a sponsor, or fabricated from component parts at Rice. Specifically not included in research equipment is computer software.
What is considered equipment for federal grants?
Per federal grant regulations, equipment is defined as tangible personal property with a useful life of more than one year and a purchase price of $5,000 and above (CFR 200.33). The equipment may be free standing or composed of several pieces working together.
What is an equipment grant?
The Equipment Grant Program (EGP) serves to increase access to shared-use special purpose equipment/instruments for fundamental and applied research for use in the food and agricultural sciences programs at institutions of higher education, including State Cooperative Extension Systems.
What does disposition of assets mean?
A disposition is the act of selling or otherwise “disposing” of an asset or security. The most common form of a disposition would be selling a stock investment on the open market, such as a stock exchange.
What is an asset disposal?
The disposal of assets involves eliminating assets from the accounting records. This is needed to completely remove all traces of an asset from the balance sheet (known as derecognition). An asset disposal may require the recording of a gain or loss on the transaction in the reporting period when the disposal occurs.
What does NIH consider equipment?
The definition for equipment, as stated in 45 CFR Parts 74 and 92, is an article of tangible nonexpendable personal property having a useful life of more than one year and an acquisition cost of $5,000 or more per unit.
Are computers allowed on NIH grants?
that is used for general office purposes (rather than justified as a specific research purpose) are not allowable as direct costs; they are allowable as an F&A cost.” NIH Award Example: “This award does not include funds for the support of computers, and printers as requested in the application.
Can research equipment be transferred to another institution?
For purposes of transferability to another institution, research equipment may be divided into two classifications: that which may be transferred and that which policy does not allow to be transferred. 1.
When is research equipment titled to the University?
Research equipment purchased with funds provided by the National Science Foundation (NSF) and the National Institutes of Health (NIH) is normally titled to the University upon acquisition.
Is research report preparation sufficient justification for purchase of research equipment?
Report preparation is not sufficient justification for their purchase with governmental funds. Several individuals/groups are responsible for the procurement, management, transfer, and disposition of research equipment. These include the following: 1.
Who can authorize the disposal of equipment?
All equipment disposals may only be authorized by Finance and Business Operations. The process and procedure for such disposals is administered by Finance and Business Operations through the Property Management Office (PMO).