Issued: May 15, 1996
EXCESS EXPENDABLE PROPERTY
This policy describes the general guidelines for the disposition of excess expendable property after a federally sponsored program is ended or terminated.
2.0 Policy [Top]
Per OMB Circular A-110:
"Title to supplies and expendable personal property shall vest in the recipient upon acquisition. If there is a residual inventory of unused supplies exceeding $5,000 in total aggregate fair market value upon termination or completion of the project or program and the supplies are not needed for any other federally sponsored project or program, the recipient shall retain the supplies of use on nonfederally sponsored activities or sell them, but must in either case, compensate the Federal Government for its share. The amount of compensation shall be computed in the same manner as for equipment."
Therefore, the University established the following policy:
Upon completion or termination of a federally sponsored project or program, the Principal Investigator and/or Research Administrator should immediately contact the Office of Sponsored Programs if expendable property with a market value of $5,000 or more in the aggregate remains, which will not be used on another federally sponsored project. OSP will advise disposition instructions. IF THE EXPENDABLE PROPERTY CAN AND WILL BE USED ON ANOTHER FEDERALLY SPONSORED PROJECT, THERE IS NO REQUIREMENT FOR ACCOUNTABILITY.
3.0 Definitions [Top]
4.0 References [Top]
5.0 Approvals and Revisions [Top]