Capital Equipment Acquisition: Furnished by a Sponsor

Equipment Acquired by a Sponsor and Furnished to the University of Minnesota

An equipment item furnished to the University of Minnesota by a sponsor for use on a specific sponsored award is the property of the sponsor. Accounting Services must create and maintain a record of the sponsor-furnished equipment item, regardless of its cost. Accounting Services must also periodically verify the existence, location, and use-status of the sponsor-furnished equipment item and report such information to the sponsor in accordance with the terms of the sponsored award agreement.

1. The principal investigator receives an equipment item from a sponsor for use on a specific sponsored award.
2. The principal investigator sends notification to Accounting Services of the receipt of the sponsor-furnished equipment item. The notification to Accounting Services must be made to [email protected]. The message must include the equipment item's manufacturer, model, description, serial number, in-service/use location (campus-building-room), condition, cost, custodial department name, principal investigator name, sponsored award number or ID, sponsor name, and the sponsor equipment ID number.
3. Accounting Services receives and reviews the notification of the receipt of the sponsor-furnished equipment item from the principal investigator.
4. Accounting Services assigns a University ID number to, and creates a record for, the equipment item.
5. Accounting Services travels to the in-service/use location of the equipment item to verify the submitted information, to collect any additional information, and to affix a bar-coded capital equipment asset tag, as well as a Federal Property tag when applicable, to the equipment item.