Captial Asset Management
Beginning July 1st, 2026, Research Integrity and Compliance (RIC) has assumed responsibility of the capital asset management for all equipment, instrumentation, and tools purchased with federal funds and Facilities & Administration dollars (F&As). All procedures conducted will be in accordance with 2 CFR §200.313 and §200.439, which outline the rules for managing, using, and disposing of equipment under federal awards. As good stewards of taxpayer dollars, we extend these procedures to equipment purchased with F&As.
As of July 1st, 2025, the capital threshold has been raised from $5,000 to $10,000. Unless it is a component for an intent to fabricate (ITF), purshases under $10,000 should not be classified as captial.
What can we help you with?
Tagging an asset
- RIC tracks all capital purchases in SmartBuy and will reach out to you within (30) days of receipt to confirm contact, location, and tag your asset. If you have an asset that needs to be tagged, please contact Jackie Hemphill.
Disposal or transfer of an asset
- To notify us of an asset that is disposed, cannibalized, or transferring to another department/lab/PI, please complete a PARR request. We will follow up with you to finalize your request. Submit a PARR request here.
Intent to Fabricate
- If you have been awarded an intent to fabricate (ITF) grant or contract, please use the following procedures to ensure accurate tracking of your project.
- An Intent to Fabricate notification form should be initiated by the PI. Please use this form to get started.
- Once the form has been executed, you will be given a fabrication number to include in all purchases made for the ITF. Please note that we do not issue an asset number until the ITF is complete and we know the total value of the asset.
- All fabrication-related purchases in SmartBuy and Chrome River should be placed under
account code 63199 and include your fabrication number in the "Required Business Purpose"
fields in either platform.
- Use of your fabrication number is important as RIC must track all purchases made for your fabrication to calculate the total value of hte final fabricated asset. This code also allows your RA in OSP to verify that purchases under 10k categorized as captial can be approved as part of an ITF.
- Unless the frequency is otherwise stated in your award, RIC shall reach out to the PI biannually (twice a year) to assess fabrication progress and purchases made for the fabrication.
- 30 days prior to the estimated completion date documented on the ITF notification
form, the PI will be sent a status request via email by RIC.
- If the timeline has changed, the estimated completion date will be updated.
- When the fabrication is completed, the PI shall notify RIC by completing the Fabrication Completion Notifcation form. You can initiate this form here.
