12.3 Title to Equipment

All equipment purchased or otherwise acquired by the University for the conduct of activities related to its mission is considered University property upon acquisition unless otherwise noted. Specific exceptions to this policy include equipment furnished to the University by the federal government for use on federally sponsored projects, equipment purchased for use on federal contracts, and other equipment loaned or contracted to the University by public or private entities. The University may request the transfer of accountability for federally titled equipment to other federal projects once the original project has been completed or it may request outright title to the equipment if the equipment continues to be utilized for similar activities. The Grant Accounting Office, 118 South Clinton Street, should be contacted for instructions when a department wishes to transfer accountability or request outright title to federally titled equipment.