Colleagues,

We are reviewing our policies and procedures for
tracking and monitoring of capital equipment purchased
through Federal grants. I have the following general
questions:

(1) Does your institution capitalize equipment
purchased on federal grants and manage through the
Fixed Assets?

(2) In your Fixed Assets system, do you keep the
equipment with its full purchase value or "0" since it
is "expensed" or fully paid for when purchased through
grants?

(3) Does equipment get depreciated using straight
line depreciation method?

(4) What will be the accounting entries for
depreciation costs since equipment is fully paid by
the grant account?

(5) Do you take a physical inventory of the equipment
(required by A-110) and if yes, how often?  Can you
share a template showing information captured?

(6) Do you have existing policy and procedures for
managing equipment purchased through federal grants?

I appreciate any feedback.

Thank you,

Kumar Mukesh, Assistant Director
Center for Clinical Research
University Hospitals of Cleveland

Phone: (216) 844-8404
Fax: (216) 844-1547

email: xxxxxx@uhospitals.org

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