Policy: X.A.2(x2 inactive)
Issued: December 15, 1986
Latest Revision: April 21, 2005
FIXED ASSETS ACCOUNTING (PROPERTY) - TRANSFER OF RESEARCH EQUIPMENT FROM THE UNIVERSITY OF VIRGINIA
This policy describes the transfer of research equipment from the university.
2.0 Policy [Top]
A faculty member transferring to another university and wanting to transfer research equipment to the new institution must obtain approval for such transfer and notify the Fixed Assets Accounting Group (Property) of Financial Analysis.
Research equipment at the University falls into one of the following categories:
- University-owned property.
- Title in University-accountable to sponsor: the sponsor retains the right to direct transfer of property with an acquisition cost of $1,000 or more per item for a period of four months following the end of a project period.
- Government-owned property: The terms of the research agreement, generally a contract, will govern the disposition of research equipment. The University generally retains possession of research equipment for which it has title. An exception may be made when the principal investigator can show such equipment transfer is not detrimental to the research function of the University of Virginia department.
To transfer research equipment the principal investigator should submit a written request to his department head for approval and signature. The department head then forwards the request to the dean for approval and signature. When the department head is the principal investigator the request is submitted first to the dean and then to the Provost or applicable vice president.
The request should be justified and include a list of items to be transferred showing item description, funding source of the original purchase, grant or contract number (if equipment was purchased with sponsored project funds), acquisition cost, and serial number. An Equipment Inventory Change Request (Form P-1) should be attached indicating the UVA asset number. The request should answer the following questions:
- Will the principal investigator continue the same research project at the new institution under the same sponsorship?
- Is the equipment so specialized that it has limited use in other research projects?
- Will the transfer affect the research function of the department and its faculty members?
The evaluation should state if the equipment is excess to the needs of the department, and address the above points as well.
Approved requests to transfer research equipment should be sent to Fixed Assets Accounting Group (Property) for appropriate action. Fixed Assets Accounting will notify receiving institutions about equipment transferred to them.
Procedure 10-1, "Preparation of Inventory Change Request."
3.0 Definitions [Top]
4.0 References [Top]
5.0 Approvals and Revisions [Top]
Previous version in effect from 12/15/86 to 4/21/05 available in policy archive.