Chapter 3: Acquisitions
Furnished or Loaned
Code of Federal Regulations 45.502-2, 45.506, 45.505-1, OMB Circular A-110
Accounting Services must be notified of the receipt of all loaned or furnished property immediately. Shipping documents and other sponsor required paperwork is forwarded to the Accounting Office. Accounting will document the receipt of equipment in detail, process the required reports and forward identification, when applicable, (government-owned and / or MTU equipment tags) to the department.
Government furnished or loaned property, received without purchase for research or other use, must be reviewed immediately (FAR 45.502-2) upon arrival. If overages, shortages, or damages are discovered the department provides a statement of the condition and apparent causes to Accounting, where the necessary report is filed with the sponsor.
The receiving process requires the proper identification of the new equipment (FAR 45.506), including specific information be maintained in the asset record (FAR 45.505-1). The requirement includes, but is not limited to:
- The name, description, and National Stock Number (if furnished by the Government)
- Quantity received (or fabricated), issued, and on hand
- Unit price (and unit of measure), Contract number or equivalent code designation.
- Location, Disposition, Posting reference and date of transaction
Equipment with possible Environmental or Health Impacts
Environmental, health, and safety considerations must be considered prior to acceptance of furnished or loaned equipment. Equipment which may contain or use radioactive sources or which produces x-rays must be approved by the department of Occupational Safety and Health Services, OSHS.