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Effective: 3/1/1984 |
Revised: 3/1/2021 |
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PCS 201: Equipment
Acquisition—General |
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Purpose
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To define general guidelines for the acquisition of
university-funded and sponsored-funded equipment
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Sources
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48 Code of Federal Regulations §§ 45
and 52
Arizona Board of Regents Policy Manual -
3–607
Financial Services
Purchasing and Business Services
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Policy
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Individual departments may purchase equipment using state, local, sponsored, and agency funds. Equipment also may be acquired by gift, donation, or financed purchase, or it may be furnished by the government. Regardless of the source of funds, all purchases must be made in accord with applicable federal and state law and Board of Regents’ and university policy.
Ways of Acquiring Ownership of
Equipment
ASU may acquire ownership of equipment in several ways
including, but not limited to, the following:
- purchase or fabrication of equipment using state, local,
sponsored, or agency funds
- purchase or fabrication of equipment using federal or
nonfederal sponsored funds for which the award document states that
ASU retains title upon receipt of the equipment
- purchase or fabrication of equipment using federal or
nonfederal sponsored funds for which equipment title is vested with
the sponsor and subsequently transferred to ASU at the completion
of the project
- donation of equipment from corporations, foundations (including
the ASU Foundation), other institutions or entities, or individuals
and
- financed purchase of equipment after the lease/purchase option has
been exercised.
Note: |
Lease/purchase equipment is treated as university
equipment when the first installment payment is
made. |
Ways of Acquiring Use of Equipment
ASU may acquire use of equipment by receiving the following:
- government-furnished equipment (GFE), with title vesting with the government
- lease of equipment
- loaned
equipment, with title remaining with the property lender
or
- purchased or fabricated equipment using federal or nonfederal
sponsored funds for which equipment title remains vested with the
sponsor.
Note: |
Disposal of non-ASU-titled equipment must be coordinated through the CAM office. |
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Cross-Reference
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For authoritative references see the Research Policies and Procedures Manual—RSP 101, “General Research Policy”
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