TUC Sponsored Programs

Asset Management

1. Definition of Equipment

 1.1 Capital Equipment Capital Equipment is an article of tangible nonexpendable personal property having a useful life of more than one year and an acquisition cost of $5,000 or more per unit. Capital Equipment will be tagged and listed in the Asset Management List. 1.2 Minor Equipment

Minor Equipment is an article of tangible nonexpendable personal property having a useful life of more than one year and an acquisition cost of at least $2,000 or more per unit, but not more than $4,999.99. Minor Equipment will be tagged and listed in the Asset Management List.

1.3 Micro Equipment

Micro Equipment is an article of tangible nonexpendable personal property having a useful life of more than one year and an acquisition cost of at least $500 to $1,999. Micro Equipment will be tagged and listed in the Asset Management List.

1.4 Communication & Computer Devices 

Communication and Computer Devices are articles of tangible nonexpendable personal property having a useful life of more than one year, regardless of the purchase price. These include computers, tablets, laptops, printers, scanners, cameras, monitors, projectors, and smartphones/cellphones, items which can be considered theft sensitive items less than $5,000. Communication and Computer Devises will be tagged and listed in the Asset Management List.

 

2. Procurement Procedure for Assets Purchased Through a Sponsored Program

Ordering Procedure (TUC)

All assets acquired through externally funding are recorded by The University Corporation (TUC) as expenses.

2.1 Ordering Procedure via Purchase Order

The Principal Investigator (PI) generates a Purchase Order for the acquisition of the asset and forwards it to TUC together with the required supporting documentation. Post-award department identifies the item if it is to be tagged. TUC processes the Purchase Order and sends it to the vendor. TUC sends an electronic copy of the purchase order to Central Receiving department.

The supplier delivers the new equipment to CSUN Central Receiving department, where it is matched to the TUC Purchase Order. The CSUN Receiving Department tags the item(s) identified by TUC as ‘To Be Tagged’ on the PO form and sends the item to the PI. If the supplier delivers the equipment directly to the PI, the PI can either contact CSUN Asset Management Department or TUC’s Post-Award department to tag the equipment on location. It is the responsibility of the PI to notify TUC and request the tagging of the items. If the asset is tagged by CSUN’s Asset Management Department, CSUN's Asset Management department will forward the information on the received equipment and the tag number to TUC.

2.2 Assets Purchased via Purchasing card

The Post-Award department will review activity reports to check and identify assets that will be included in the Asset Management List. A copy of the supporting documentation will be saved and enter to the Asset Management list in Smartsheet, The Administrative Compliance Analyst will contact the PI to schedule an appointment to tag the asset.

2.3 Assets Reimbursed via Check Request

The Post-Award department will determine if an asset is required to be tagged based on the guidelines in 1. Definition of Equipment. Upon review and determination, the Administrative Compliance Analyst will enter the item in the Asset Management list in Smartsheet, save a copy of the supporting documentation in Smartsheet, and will contact the PI to schedule an appointment to tag the asset. 

3. TUC Tracking Procedure and Reconciliation

Post-Award department maintains a list of all asset purchases (Asset Management List) in Smartsheet. The list contains the following information:

• Asset Number

• Description

• Account number/Project ID

• Project Begin Date

• Project End Date

• Principal Investigator

• Serial Number

• Vendor

• Purchase Price

• Purchase Order Number

• Paid Date

•Department

• Mail Drop

• Location (Building, Room) 

The Post-Award department will review and enter all information based on asset’s supporting documentation. The Asset Management list in Smartsheet will be shared with CSUN Central Receiving and Environmental Health and Safety departments. 

On a semi-annual basis, the Post-Award department will review the asset related accounts of the Detailed Trial Balances of all sponsored programs to ensure that all asset purchases are included in the Asset Management List and will tag items that require tagging.

On a bi-annual basis (every 2 years), the Post-Award department will take a physical inventory of all assets over $5,000 on the Asset Management List.

4. Title and Ownership

Since grants are made to The University Corporation/CSUN on behalf of the PI or Program Director, the title to equipment acquired with grant funds vests with The University Corporation/CSUN, not the Principal Investigator. Per 2 CFR 200.313-314, title for capitalized assets, acquired under a Federal award, that have purchase price greater than $5,000, will vest upon acquisition with TUC/CSUN. Unless a statute specifically authorizes the Federal agency to vest title to CSUN/TUC without further obligation to the Federal Government, and the Federal agency elects to do so, the title must be a conditional title. During the duration of the grant, ownership of equipment acquired with grant funds vests with TUC. After the end of the grant, TUC will transfer ownership to the University.

5. Transfer Of Principal Investigator To Another Organization

CSUN/The University Corporation is the legal entity to which a grant is awarded. When the Principal Investigator moves to another organization, the following options apply in the order listed:

  1. CSUN/The University Corporation may request continuation of the project under the direction of an alternate PI. If the alternate PI is approved by the granting agency, the grant will continue and thus title to the equipment purchased under the grant will remain with CSUN/The University Corporation.
  2. CSUN/The University Corporation may relinquish its interests and rights in the grant to the PI's new organization. If the new organization is approved by the granting agency to continue the grant activity, then the grant will be awarded and any equipment purchased with grant funds and still needed for the grant project would be expected to be transferred to the new grantee organization, which would assume title. If CSUN/The University Corporation does not voluntarily agree to relinquish equipment with the grant, the granting agency may require the transfer of the equipment.
  3. If an alternate Principal Investigator is not accepted by the granting agency (or no alternate is nominated), and CSUN/The University Corporation refuses to relinquish its rights in the grant to the new component to continue the research), then the grant will be terminated. Title to the equipment will remain with CSUN/The University Corporation, subject to disposition or use as described below. The PI's new organization may submit a new application through the regular peer review process to request support for the research. A change of grantee may not take place where it will involve the transfer of a grant to or between foreign institutions or international organizations.


6. Disposal of Assets during a Grant

Disposal of assets during a grant require the approval of the granting agency, Research and Sponsored Programs department, and the Principal Investigator. When equipment acquired under a federal award is no longer needed for the original project or program or for other activities currently or previously supported by a federal awarding agency, the CSUN/TUC must request disposition instructions from the federal awarding agency if required by the terms and conditions of the federal award. If the campus is authorized or required to sell the property by the federal agency, proper sales procedures must be followed to ensure the highest possible return as stated in 2 CFR 200.313(e)(2).

Items of Equipment with a current per unit fair market value of $5,000 or less may be retained, sold or otherwise disposed of with no further obligation to the Federal awarding agency as stated in 2 CFR 200.313(e)(1). Income from the disposal of assets will be booked as negative expenses in the project and account where the original expenditure occurred. 

When disposing of a grant or contract asset, PI completes a Surplus Property Survey Request Form 116 and submits it to Post-Award department. Post-Award department will remove the asset from the Asset Management list and will mark as disposed in the record.


7. Transfer of Assets to CSUN after the End of a Grant

After the completion of a grant or contract, the title of the equipment is to be transferred to CSUN. At least once a year, Post-Award department will prepare a list of assets to be transferred and forward it with a cover letter to PPM/Asset Management. At that time, the asset will be removed from Post-Award department’s Asset Management list in Smartsheet.

8. Procedure Information

Date of Last Revision: 11/8/23

Contact information:

Sam Vasquez, Administrative Compliance Analyst, Research & Sponsored Programs

Phone: 818-677-3061; Email: sam.vasquez@csun.edu

Grace Slavik, Associate Executive Director, Financial Services

Phone: 818-677-3498; Email: grace.slavik@csun.edu