We changed our definition from $500 to $5,000 in July 2003. We
grandfathered old grants under the $500 level. We set up a new object
code in our accounting system for non-capitalized equipment, for those
equipment purchases between $500 and $4999.99, on the grandfathered
accounts.
Chris McNabb
Financial Coordinator
University of Oklahoma
Post Award Financial Services
731 Elm Avenue, Room 134
Norman, OK 73019
Phone: (405) 325-4429
Fax: (405) 325-0165
e-mail: xxxxxx@ou.edu
-----Original Message-----
From: Research Administration List [mailto:xxxxxx@HRINET.ORG] On
Behalf Of Smith,Lois M
Sent: Tuesday, March 23, 2004 2:08 PM
To: xxxxxx@HRINET.ORG
Subject: Re: [RESADM-L] definitions of equipment
I agree with Chuck. We use our limit of $1,500. We will even report it
to the Feds as equipment if it's not vested with us. But can I raise
another question? We're planning to shift to $5,000 with the new fiscal
year and F & A proposal. Can we grandfather our old grants at the $1,500
level? We don't want to adversely affect the PI's since this would
cause additional indirect costs.
Thanks, Lois Smith,
Associate Controller, Sponsored Programs
The University of Akron
-----Original Message-----
From: Research Administration List [mailto:xxxxxx@HRINET.ORG] On
Behalf Of Herbert B. Chermside
Sent: Tuesday, March 23, 2004 2:30 PM
To: xxxxxx@HRINET.ORG
Subject: Re: [RESADM-L] definitions of equipment
From A-110, -- 2. (l) Equipment means tangible nonexpendable personal
property including exempt property charged directly to the award having
a useful life of more than one year and an acquisition cost of $5000 or
more per unit. However, consistent with recipient policy, lower limits
may be established.
You must use your institution's definition.
You might suggest that the institution increase its definition level to
the federal level. It will save administrative cost by avoiding
tracking low-value items.
Chuck
At 12:41 PM 3/23/2004, you wrote:
>Hi, all -
>We are preparing a proposal submission to a federal agency which uses a
>definition for equipment which differs from the applicant
organization's
>definition. (Feds use unit cost of $5,000 or greater & usable life of >
1
>yr., and applicant organization uses unit cost of $1,000 or greater &
usable
>life of > 1 yr).
>
>How do I reconcile these differences in the proposal budget? My
inclination
>is to include our request for items > $1,000 but less than $5,000 in
the
>Supply category of the budget and add a note that the applicant
>organization's policy requires that expenditures for items > $1,000
unit
>cost be treated as equipment. Does this cause a post-award nightmare
for
>either the funding agency or the grantee?
>--------------------------
>Molly Daniel
>Interim Manager, Healthier Communities Programs
>Sarah Bush Lincoln Health Center
>1000 Health Center Drive
>Mattoon, IL 61938
>phone: 217-258-2195
>fax: 217-258-4135
>email: xxxxxx@sblhs.org
>web: www.sarahbush.org
>
>
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> subscription information and a web-searchable archive, are available
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Herbert B. Chermside, CRA
Virginia Commonwealth University
PO BOX 980568
Richmond, VA 23298-0568
Voice: 804-827-6036
Fax 804-828-2051
e-mail xxxxxx@vcu.edu
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subscription information and a web-searchable archive, are available
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======================================================================
======================================================================
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subscription information and a web-searchable archive, are available
via our web site at http://www.hrinet.org (click on "Listserv Lists")
======================================================================
======================================================================
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subscription information and a web-searchable archive, are available
via our web site at http://www.hrinet.org (click on "Listserv Lists")
======================================================================
