Includes all equipment purchased with federal funds, even if split funded.
Federal Government furnished equipment includes property provided by federal agencies to principal investigators regardless of cost. When principal investigators acquire property directly from a federal agency, the Property Office must be informed of the receipt of that equipment and be provided with any issuing documents. The Property Office will view the equipment and tag, if appropriate, the equipment is added to the Asset Management system.
At the end of an award and completion of a contract, Government Furnished Property will be returned to the agency. Equipment may also be transferred to another contract.
Grant Closeout Process
When a federal award ends, the Property Office will be notified by the agency, Office of Grant & Contract Administration, or the responsible grant accountant based on close out requirements specified in the initial award document Sponsor specific requirements and other information can be on the Research Administration and Compliance site: http://www.umass.edu/research/awards/administration/reporting
The applicable closeout reports will be prepared and submitted to the appropriate agency. In most cases these reports are filed electronically.
Fabricated Equipment is a piece of capital equipment that has been created for a specific research project. Cost efficiency, timeliness of delivery, non-availability or uniqueness of particular equipment may make it necessary for the project to fabricate a piece of equipment rather than purchase it.
Fabricated Equipment is exempt from the Indirect Cost (F&A) Rate. Among the criteria used to classify an item as Fabricated Equipment are:
The total cost is $5,000 or more; the equipment is not expendable and has a usable life of more than one (1) year; the equipment is to be used only for research and is needed to carry out a sponsored project.
As individual pieces of equipment are completed the Principal Investigator must report the item(s) to the Property and Inventory Control Office for proper tagging and recording. All Fabricated Equipment must be appropriately tagged by the end date of the project.
The cost of Fabricated Equipment must be reasonable and supported by adequate documentation which is subject to review by the Property and Inventory Control Office or other responsible officials. http://www.umass.edu/research/policy/fabricated-equipment-policy