Sponsored Project Equipment
Arrangements for the furnishing or loaning of equipment to be used for sponsored programs are administered by the OBFS, Grants and Contracts Office, in collaboration with the unit and the OBFS, University Property Accounting and Reporting (UPAR).
Equipment as State property - Upon transfer of ownership of the equipment from the sponsor to the University, the Grants and Contracts Office will notify UPAR of the transfer and provide information necessary to add the equipment record to Banner Fixed Asset. The Grants and Contracts Office will also notify the unit to remove or obliterate the sponsoring agency's property control tag.
Identity of equipment - Equipment that is titled to an outside agency may not become a fixture or lose its identity or personality by incorporation into or attachment to property not owned by the same outside agency.
Loans of Sponsored Project Equipment - Under certain circumstances, equipment acquired with sponsored project funds may be loaned to other institutions of higher education for continuation of the sponsored research. Contact the appropriate campus Grants and Contracts Office to initiate this process. See Section 12, Property Accounting: Loan Equipment to Another Institution and for UIUC units Section 16.1.4, Equipment, Equipment Leases and Expendable Supplies of the Business and Financial Policies and Procedures manual for specific requirements.
Periodic verification - Equipment that is held under agreements with sponsoring agencies or is on loan from outside agencies is included in the monthly and annual reports received by units and is verified under the same procedures as is State-owned equipment.
Property tags - The Grants and Contracts Office furnishes to units numbered property control tags distinct from State-owned property tags, for all sponsor-titled equipment. This includes equipment purchased from sponsored research funds when the title to the equipment remains with the sponsor and for equipment on loan to the University from outside agencies.
Records of furnished or loaned equipment - Property records for movable equipment furnished or loaned to the University for use on a research project or for other purposes are kept in Banner Fixed Asset. The records identify the equipment as non-State titled property.
Records of purchased equipment - Property records for movable equipment purchased where the funding agreement stipulates that the title remain with the sponsoring agency are recorded in Banner Fixed Asset. The records identify the equipment as non-State titled property.
Transfer of equipment from the University - Equipment purchased from sponsored project funds may be transferred to another institution of higher education under certain circumstances. See Section 12, Property Accounting: Transfer Sponsored Equipment to Another University of the Business and Financial Policies and Procedures manual for specific requirements.
Transfer of equipment to the University - All movable equipment held under agreements with sponsoring agencies remains the property of the sponsoring agency until either the University is relieved of accountability in writing by the sponsor, or the equipment is transferred to the University under the following conditions:
Last Updated: June 30, 2015
- As part of the sponsor's agreement.
- At the request of the University and with the written approval of the sponsor.