University of Vermont

Cost Accounting Services 

Cost Accounting Standards Transfers of Movable Equipment

Prior to requesting a transfer of movable equipment, an important consideration in determining whether a equipment is available for transfer or not is the funding source and the usage of the equipment item(s). Per the University's Movable Equipment policy, equipment acquired via a federal sponsored agreement have usage requirements even when the equipment is vested with the University.

Once the necessary due diligence of assessing whether other opportunities exist or not for using an equipment item as described in the Movable Equipment policy, follow the guidance below for internal and external equipment transfers:
  • Internal transfer between UVM departments - An equipment item may be transferred to another University department. Written communication must be emailed to Cost Accounting Services (CAS) which clearly states the pending transfer agreement between the two departments.
  • Equipment transfer from UVM to an external organization (funded by an active sponsored agreement) - When a Principal Investigator (PI) is transferring to another organization and an active sponsored agreement is being relinquished by the University to the PI's new organization,  movable equipment purchased by the active sponsored agreement is typically transferred to the new organization of the PI. A list of the movable equipment must be submitted as part of the relinquishing request documentation to Sponsored Project Administration and Cost Accounting Services for consideration and processing. The list of information should include the University's asset tag number, description, model number and serial number.
  • Equipment transfer from UVM to an external organization (equipment is owned by the University) - If a federal sponsored agreement originally paid for part or all of the movable equipment, the equipment must be made available to other federal sponsored agreements. If other federal programs do not need the movable equipment, then the University responsible official of the equipment item(s) must approve the request before the request is submitted to CAS.The request should include the University's asset tag number, description, model number and serial number.
  • External transfer from an external organization to UVM - When equipment whose book value is 5,000 or more is transferring from an external organization to UVM as part of a faculty member's transfer to UVM, the equipment must be tagged and be included in the official University asset database for insurance purposes. Upon arrival of the equipment, contact CAS and schedule the tagging of the equipment. For transfers requiring the sale of  movable equipment to an external organization, contact CAS for guidance on proper sales procedures and recommendations on achieving the highest possible return for the University.

Contact: Cost Accounting Services.

Last modified January 18 2018 01:13 PM