Inventory Control Procedures
The Project Director is accountable for equipment purchased with grants and contract funds. Title to equipment usually vests in the Research Foundation unless the sponsor retains title. Different sponsors have established varying cost levels for determining retention of title to equipment. Contact the Office of Sponsored Research if you have questions regarding the requirements governing the disposition of equipment for your particular sponsor.
The Research Foundation defines equipment as having a cost of $1,500.00 and a useful life of two or more years. Some sponsors such as the Department of Social Services have a much more restrictive definition of equipment. When this is the case, the sponsors' lower threshold is utilized for inventory control purposes.
The Property Control Office maintains an inventory of all equipment purchased under the auspices of the Research Foundation on the SUNY property control system. When it is determined that a particular item of equipment must be inventoried, decals are affixed to each piece to indicate where title is vested. Periodic physical inventories are also required to verify the location of each item of equipment.
This inventory also identifies surplus or otherwise available equipment, which must be considered before purchasing equipment with sponsored funds.
When required by sponsor rules or contract terms, the Research Foundation prepares a final property inventory. Upon the termination of the project, the inventory report is submitted to the project director and/or appropriate campus official for certification before it is sent to the sponsor. If there is a need to retain equipment for use on another project, the Office of Sponsored Programs must be notified as it may be necessary to request the sponsors permission to utilize equipment after the conclusion of the project or to justify continued use on a programmatic basis. In addition, sponsor and federal equipment control regulations make it imperative that the Research Foundation be notified promptly of the transfer or disposition of such equipment. This includes items that are missing, damaged or returned to the sponsor.