To establish responsibility for the retirement of equipment on sponsored projects in compliance with sponsor terms and conditions.
May 2021Responsible Office
The Office of Research Services is responsible for ensuring that all retirements of plant assets originally purchased with external sponsored project funds comply with the sponsored project terms and conditions. The Office of Research Services has delegated this responsibility with respect to moveable equipment to the Schools and Centers.
When equipment, originally purchased with externally sponsored project funds in whole or in part, is to be retired, the managing department in conjunction with the school should ensure that the retirement is in compliance with the sponsored project terms and conditions. This requirement is independent of the net book value of the equipment.
If required by the terms and conditions of the awards used to purchase the equipment to be retired, the associated Principal Investigator, Asset Administrator, Business Administrator, Grants Manager(or individual assigned with responsibility at department’s discretion) should request disposition instructions from the awarding agency and comply with such instructions.
The retirement of federally sponsored equipment must comply with 2 CFR 200.313 section E concerning the Disposition of Equipment.
The Business Administrator/Grants Manager should monitor whether sponsored project equipment is being retired according to this policy and/or other applicable award requirements.
In the event that the asset retirement is the result of the transfer of a Principal Investigator from Penn to another Institution, ORS should be notified prior to the physical transfer of the asset.
Business Administrator/Asset Administrators/Grants Managers
Senior Asset Administrators
Office of Research Services
The source of this document is Research Services.