Government Property - Red Tag Equipment

A. Overview

Equipment purchased using external funds via a grant or contract or equipment furnished or loaned to the University where title remains with the sponsor shall be tagged with a red tag and recorded in the Fixed Asset system. The responsibility for equipment accountability is assigned to the Principal Investigator (PI). The Division of Finance is responsible for equipment reporting. The PI shall notify the Division of Finance of any disposition plans.  The Division of Finance Office responsible for sponsor equipment reporting is the Grant Accounting Office located at WUSOC 214 and may be contacted at Finance.EquipmentInventory@ohio.edu.

B. Regulations

Sponsor equipment must be in compliance with the following regulations: 

C. Receipt of New Equipment

  1. Purchased Equipment: When equipment is purchased using external funds where title remains with the granting agency and the equipment is in the possession of Ohio University it should be charged to natural account code 965000.

  2. Loaned or furnished Equipment: When equipment is loaned or furnished directly to the PI it is the PI's responsibility to notify the Division of Finance.

 D. Tagging of New Equipment

Purchased equipment and Loaned or furnished equipment will require the following information to be provided by the PI responsible for the equipment:

  1. Name

  2. Description

  3. Serial or Manufacturer identification number

  4. Date acquired and placed in service

  5. Location:  Building and Room number

  6. Unit acquisition cost

  7. Purchase Order #

  8. Name of department

  9. Employee Name

  10. Grant Award #

  11. Agency

  12. Catalog of Federal Domestic Assistance (CFDA) Number

 

E. Changes in Status of Equipment, Maintenance & Disposition

  1. All equipment that is moved, transferred, stolen, destroyed, etc., must be reported to the Division of Finance by the PI that is accountable for the equipment. Equipment Status Change form can be used for this purpose. Status changes are to be reported to the Division of Finance as they occur and will be reported to the governmental agency as needed.

  2. The PI will be responsible for any maintenance required to be performed on the government equipment and will also be responsible for maintaining maintenance records as required by the governmental agency involved.

  3. When the grant ends or when the equipment is no longer needed the Division of Finance will work with the PI to determine the disposition and the process required by the granting agency for disposition of the equipment.

 F. Reporting

The Division of Finance will track inventory reporting requirements by grant and will file the reports as required by the agreements (i.e., quarterly, annually, final).

G. Annual Inventory

Annually the Division of Finance will furnish each PI with a sponsor equipment certification requesting sponsor equipment be audited and certified.   The PI must report all corrections to the Division of Finance on on the Equipment Status Change form. The Certification form must be signed by the PI or Department Administrator and returned to the Division of Finance.

 

H. Audits

Equipment inventories will be periodically audited by both outside auditors and the Division of Finance. Therefore, it is imperative that all transactions affecting government equipment be properly recorded.

I. Sponsor Regulations

Federal Aviation Administration (FAA) –  Federal Acquisition Regulations approved by FAA.