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Stage
Manage Award and Finances
Topic

Manage equipment and assets

Need assistance with managing equipment or assets?

Equipment and assets purchased on sponsored funds should be monitored, transferred, and disposed of or demolished according to institutional procedures. Depending on the type of equipment, researchers will need to work with various departments within Duke Financial Services, including:

Purchasing equipment and assets

Access the following page for guidance and resources on approved procurement methods, as well as the associated GAPs for purchasing and acquiring equipment:

Purchasing unbudgeted equipment and assets

Follow the standard approval procedures as described in the GAP 200.160, Rebudgeting Funds on Sponsored Projects to:

  • add equipment which was not included in the approved budget, or
  • change the budget line item for equipment because its cost differs from the original estimate.

If the PI proposes to purchase equipment which differs from that described in the approved budget, but which does not require a modification of the budget, the Request for Rebudgeting of Grant Funds must still be completed. Zero (0) should be inserted in the column requesting the amount of change in the line item and the approved form should be attached to the purchase order for the equipment. This procedure enables the University to correctly identify equipment when preparing property reports for the sponsor.

Special Note: Purchasing equipment in the final year of a sponsored project, whether it's in the approved budget or not, takes special consideration and should be carefully justified and approved by the department, ORA, ORS, PAFM, and the sponsor if necessary.

Equipment monitoring and audits

Fixed equipment and movable assets may be subject to tagging, inventory, and monitoring in accordance with Plant Accounting procedures. GAP 200.040, Plant & Equipment Definitions, General Principles and Controls details asset tags and record keeping requirements for equipment and assets that fall in this category.

Plant Accounting conducts routine equipment audits for all University departments. Access the following page for more information about Plant Accounting audits and other equipment audits:

Equipment and asset disposal and demolition

GAP 200.040, Plant & Equipment Definitions, General Principles and Controls details the process for equipment disposal, demolishment, and transfers.

All surplus property, including computers, that were purchased with Duke funds or are considered Duke property must be processed through Surplus Property Asset Disposition Tool for tracking purposes. Access the Surplus and Storage Programs website for additional information.