The University of Washington Financial Management
Division is responsible for ensuring that adequate accountability
systems are established and administered for University and sponsoring-agency
equipment. The Financial Management Division is also responsible
for providing a public record of state or federal property. As
specified in Title 48,
Federal Acquisition Regulation, and by the federal Office
of Management and Budget's Circular A–110
for grants, the University property records are the official property
records of the federal government. Equipment is accounted for
and controlled on a departmental basis. Title and ownership are
vested in the University of Washington except where the funding
agency retains title as defined in the specific grant or contract
document. Property matters related to sponsored grant and contract
programs are coordinated with the Office of Research. Regulations
and provisions of individual grants and contracts should be followed,
as well as any general federal or state regulations that apply.
Equipment is not insured by the University except when certain
risk factors exist (see Administrative
Policy Statement 14.1).
The acquisition, reconciliation, physical inventory,
utilization, and disposal of University of Washington Medical
Center equipment is the responsibility of the Medical Center's
Accounting Office.
The primary responsibility for the physical custody
and maintenance of University equipment rests with the appropriate
authority (chair, dean, or director) in the using department.
Each department is to designate an "inventory officer"
(in writing) to perform duties necessary to achieve compliance
with the state Office of Financial Management regulations. The
principal investigator is responsible for agency-owned equipment.
The program director is responsible for equipment used in interdisciplinary
programs.
Laws of the state of Washington and regulations
of the state Office of Financial Management (OFM),
State Administrative & Accounting Manual,Chapter 30,
"Capital Assets."
b. Responsibilities
The responsibilities of the Equipment Inventory
Office are as follows:
#1
Review
equipment and supply purchase requisitions
to check for proper expenditure coding, on-campus
screening of high cost federally funded equipment,
and preacquisition approvals required by certain
federal contract awards.
#2
Maintain
University, federal, and agency-owned equipment
records.
#3
Maintain
inventories for buildings, land, and improvement
other than buildings.
#4
Coordinate
equipment tagging.
#5
Prepare
and distribute Physical Inventory Listings.
#6
Develop,
review, and process physical inventories of
equipment in accordance with policies and
regulations of the University and of various
governmental or private funding agencies.
#7
Represent
the University as Property Administrator in
order to satisfy federal and state government
regulations on equipment acquisitions, accountability,
and disposal.
#8
Prepare
reports required by University departments
and the various funding agencies. These include
physical inventories, preacquisition screening,
equipment sharing, ownership verification,
accountability reports for funding agencies,
depreciation schedules, use allowance calculations,
legislative equipment replacement requests,
capitalization of assets, and fixed asset
information for annual financial statements.
#9
Report
fixed asset accounting activity quarterly
to the Office of Financial Management's State
Asset Reporting System (SARS). This includes
equipment, land and buildings, collections,
and library books summarizing quantity (items,
square feet, acres, and shoreline feet) and
cost by fund, location (county/state), and
major type of equipment with accumulated depreciation
for buildings and equipment.
c. The Online Asset Information
System—Web OASIS
Equipment records for the University are maintained
in an online database known as Web
OASIS. This database is accessible at all times through
the University's Web site to any individual who has attended
training and submitted an access form. Access forms are available
from the Equipment Inventory Office, and training sessions
are offered free of charge on a monthly basis. Use of the
Web OASIS system eliminates the need for "orange cards" and
asset control sheets, and allows departments immediate access
to equipment information, as well as the capability to run
reports based on departmental needs.
