Current version: September 1, 2003
Summarizes responsibilities for handling sponsor-funded/owned and University-funded equipment and property. Includes the definition of capital equipment, which was modified in September 2003.
This policy outlines the responsibilities for sponsor-funded/owned and University-funded equipment. Procedures are mandatory under Stanford's sponsored contracts and grants as well as under University policy. It is important that the policies concerning such equipment are carefully followed to ensure that Stanford is complying with all of its contractual and legal obligations.
Stanford University is responsible for the control of sponsor-funded/owned property provided under the terms of sponsored project contracts and certain sponsored project grants. The University delegates the direct control, maintenance, and accountability of sponsor-funded/owned property used in connection with a contract or grant to the principal investigator. Principal investigators may assign property control functions to the project staff, research coordinator, department property administrator, departmental administrator, or laboratory administrative staff.
University policies and procedures on control of sponsor-funded/owned property are established by Property Management Office (PMO) and the Office of Research Administration (ORA) to insure compliance with contractual requirements. The University delegates oversight of sponsor-funded/owned property to the Property Management Office.
The function of a Government Contracting Officer with respect to Government property in the custody of a contractor is to insure compliance with the provisions of contracts and the applicable regulations, and that the Government's interests in such property are fully protected at all times. A Government Contracting Officer may be assigned the additional duty of Government Property Administrator.
A Government Property Administrator is designated by the Government contracting officer for each contract or grant involving Government property. Frequently the designated Government Property Administrator is the Office of Naval Research (ONR) Resident Representative. The ONR Resident Representative assumes responsibility for reviewing Stanford's property control procedures, for examining property records, and for insuring that Government interests are protected.
Capital equipment is defined as equipment with an acquisition cost of $5,000 or more and useful life of more than one year.
Fabricated equipment, where the aggregate cost of the components is $5,000 or more and where the fabricated asset has a useful life of more than one year, is defined as capital.
Directly related procedures, policies and instructions for acquiring, controlling, shipping, moving, and disposing of sponsor-funded/owned and University property (including loaned and donated property) are contained in the Stanford Property Administration Manual, which is available to department property administrators from the University Property Management Office.
Stanford's system of record for property is called Sunflower Assets, a part of Stanford's Oracle Financial system.
Questions on policy can be directed to the Director, Property Management Office or your Property Service Representative (PSR).