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.
- The principal investigator receives an equipment item from a sponsor for use on a specific sponsored award.
- 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.
- Accounting Services receives and reviews the notification of the receipt of the sponsor-furnished equipment item from the principal investigator.
- Accounting Services assigns a University ID number to, and creates a record for, the equipment item.
- 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.