Feb 21, 2024
BS5002 - Assets
Section: BUSINESS SERVICES PROCEDURES
SubSection: SPONSORED PROGRAMS
Master List Section: Business Service
Project Directors will ensure that the purchase and use of items funded through sponsored projects follow both DMACC and funder policies and are exclusive to the project for which the purchases are made. Usage and storage locations for all purchases must be safeguarded.
- All equipment and supplies paid for with sponsored project funds will be used exclusively for the project for which they were purchased and will be stored in secure locations to prevent loss, damage, or theft. Upon delivery of items, Project Directors will ensure placement and/or storage meets the stated safeguard standard.
- Requests for all equipment and technology must occur as early in the project period as possible and must contain written justification for items not considered usual and customary.
- DMACC will comply with regulations for federally-funded projects stipulated in 2CFR Part 200, including maintenance by the Business Office of an equipment inventory and proper notification of the disposal of any property. See specifically Part 200.310-316
Relevant Policy: BS732
October 1, 2020
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