Government Property/Red Tag Equipment
Government property is equipment marked with a red, rather than the usual green, OU inventory tag. A red tag designates that the equipment was purchased with Grant funds and is titled to the granting agency, not the University. Never send red tag equipment to University Surplus without approval from the Plant Accounting office. Always check with the Plant Accounting office for disposal or return of red tag equipment.
When purchasing equipment with Grant funds where the granting agency is going to retain title use natural account code 965000. Some granting agencies (i.e., ODOT) may define equipment as items costing less than $5,000.
If a granting agency ever furnishes equipment for use on a grant the department must contact the Plant Accounting office to have the equipment tagged.
The Plant Accounting office is responsible for preparing all inventory reports to government agencies for red tag equipment.