Property Management
Property Tracking and Monitoring
Management of all property purchased with sponsored project or program award funding is coordinated between ORPA, the Purchasing Department, Departments, and PIs. The University’s Capital Equipment Policy outlines requirements for tagging, tracking, and reporting capital equipment in order to ensure that federal acquisition, funding, and disposal regulations are met. Each department is accountable for its own capital equipment, including maintaining appropriate financial records and tracking the location and status of individual items of equipment. Accurate maintenance of property records is essential to safeguard assets, ensure financial accountability, support adequate insurance coverage, and promote efficient use of property already on hand.
- Maintain the government-owned property database and records
- Conduct required physical-property inventories for government-owned equipment
- Assist Departments and PIs with equipment transfers
- Create and submit property reports to sponsors
Fabricated Equipment
Management of fabricated equipment items must be consistent with the management of all capital equipment. In accordance with the Fabricated Equipment Policy, the PI or Department must provide a Fabricated Equipment Completion Verification Form to the Purchasing Department upon completion of the fabrication.
Property Transfers
Final property, or capital equipment, reports are handled by ORPA and will be submitted, if required, to the sponsor at the end of an award. ORPA will determine where property title vests and, if not specified in sponsored award, will request title be granted to the University. For Government-furnished property, ORPA will work with the PI to determine the appropriate disposition.
If a PI requests a transfer of property to a new institution, the PI and Department must follow the Procedures When Transferring Capital Equipment from Princeton found in the University’s Capital Equipment Policy.
