Conditional Next Determine which equipment will Generate master list of equipment Submit any forms Verify asset Steps B transfer and which will remain at the associated with PI. Inventory Services also required by transfer is Capital Equipment U of M. can provide a list of equipment associated sponsor complete, begin with a PI as a starting point. closeout process. Capital equipment acquired on Active Projects may transfer with the approval of sponsor. Capital equipment acquired on Inactive Projects may transfer with the approval of the Dean/Department Head & Inventory Services. In scenarios where new institution is purchasing equipment (i.e., inactive projects or non sponsored funds), price(s) must be negotiated and sold at Fair Market Value or Net Book Value (whichever is greater). Invoice for sale of equipment in EFS and charge sales tax. Complete the Capital Equipment Asset Disposal form #1393 and obtain the required signatures for all the scenarios listed. Conditional Next Review final report/invoice. Review final report/invoice. Check that F&A is Steps B in line, Submit Final Financial Financial Report/ Report/Invoice Invoice, PAYROLL COSTS.
Conditional Next Steps B Capital Equipment Determine which equipment will transfer and which will remain at the U of M. Generate master list of equipment associated with PI. Inventory Services also can provide a list of equipment associated with a PI as a starting point. Capital equipment acquired on Active Projects may transfer with the approval of sponsor. Capital equipment acquired on Inactive Projects may transfer with the approval of the Dean/Department Head & Inventory Services. In scenarios where new institution is purchasing equipment (i.e., inactive projects or non sponsored funds), price(s) must be negotiated and sold at Fair Market Value or Net Book Value (whichever is greater). Invoice for sale of equipment in EFS and charge sales tax. Complete the Capital Equipment Asset Disposal form #1393 and obtain the required signatures for all the scenarios listed. Submit any forms required by sponsor Verify asset transfer is complete, begin closeout process. Conditional Next Steps B Final Financial Report/Invoice Review final report/invoice. Review final report/invoice. Check that F&A is in line, Submit Financial Report/ Invoice, PAYROLL COSTS.
PIdeparturesteps2013.docx