Property Auction Blogs
Thursday, October 12, 2006
Often the government delivers all of their properties to the University for performing explicit contract requirements. This property can "ONLY" be used on the grant it has been intended for stated unless otherwise. Moreover, precise records need to be maintained as to the use, location, and maintenance. - Government-Furnished Equipment: Equipments that are owned by the Government but furnished to the University for Use under a federally-funded project.
- Contractor-Acquired Equipment: Equipment attained by the University along with funds provided by the Federal Government.
- Contractor-Fabricated Equipment: Special purpose equipment that gets assembled results in an editorial article of capital equipment.
Management of Government Property
The manual is nothing but a mutual effort of the Office of Sponsored Programs, Purchasing, and Property Management for establishing as well as maintaining a property control system for the control, use, maintenance, repair, protection and preservation of government property in the custody of Montana State University, its agents, along with its subcontractors. Government property may be obtained as (1) by purchase (2) by government surplus 3) by fabrication as an end product.
Process of Capital Equipment Purchases:
Purchasing Department routes for capital invoice payments via Property Management, who allots the permanent tag number, places and tags the item, noting all the details such as PI name, serial # and location. This information is entered on the University BANNER computer system at all times. Identification of Government Property
After the establishment of government property, property management will be accountable for the affixation of identification tags on all of the government properties as soon as possible. Property Records
Property Control preserves the entire collection of official records for all federal government property coded as capital equipment and has the following properties such as: property identification number, department, acquisition method, description, manufacturer, model number, serial number, condition code, unit cost, total cost, date received, location, department contact, contract number, university account number, funding agency, date last inventoried. Physical Inventories
At the annihilation of a contract, the OSP or Property Management will equip the liable Principal Investigator with all of the government properties that gets listed are attained during the life of the contract to date. Annual Inventory
Property Management and the PI/Departmental Administrator will work together to conduct an annual inventory of all government-owned property and resolve any discrepancies disclosed by the inventory. Selective Inventory
Property Management may conduct selective inventories as needed to protect the Government’s interest. Closeout or Terminal Physical Inventory
The PI/Departmental Administrator shall prepare, with the assistance of Property Management, an inventory of government property in the possession of Montana State University or its subsidiaries at termination or closeout of an award. Movement
Movement out of the department of any item of federal government property that is tagged with a university property tag must be documented by the PI/Departmental Administrator on an Equipment Transfer Notice. Consumption
Consumption is the process of integrating all the raw materials offered by the Federal Government into an end item unless or otherwise overwhelming them in the performance of the contract. Utilization
University departments should utilize government property for the purposes that are described in the award. Maintenance
The PI/Departmental Administrator takes responsibility for the care, maintenance and utilization of government property in their possession from the time of receipt of the property until it was relieved of responsibility by the agency. Subcontractors
The PI is accountable for all government property in the custody of subcontractors or at alternate locations. Property Management maintains each and every records of government property that is physically positioned off-campus.
posted by property auctioneers @ 2:03 AM
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