New Equipment Purchasing Object Codes for Grants

Two new expense object codes have been created and are available for use in the finance systems (BCB, CONCUR, EBiz) to enhance the identification of equipment fabricated through approved Sponsored Projects at the University. If applicable, you must begin using these codes effective immediately. These new objects will increase the transparency of ownership as the equipment is completed and will provide for proper “tagging” and compliance with the capitalization policy. Below are the new codes:

744500-SPON-OWNED COMPONENTS OF FABRICATED EQUIP

For use in the Grants Module when equipment is fabricated by Ohio University and will remain at the University but is owned by the Sponsor upon completion. These costs are not capitalized and will be identified with a “Red” tag for tracking purposes upon completion. These costs are exempt from Indirect Cost (IDC) but if no equipment results from development, then the fabrication costs will be transferred to supply expense and IDC will be assessed at that time.

744600-UNIV-OWNED COMPONENTS OF FABRICATED EQUIP

For use in the Grants Module when equipment is fabricated by Ohio University, and it will be owned by the University upon completion. These costs will be transferred and capitalized (if over threshold of $5,000) within the appropriate “Green” tag equipment category. These costs are exempt from IDC but if no equipment results from development, then the fabrication costs will be transferred to supply expense and IDC will be assessed at that time.

Any non-fabricated sponsored designated equipment purchased, that is under $5,000 that is owned and in the possession of Ohio University will continue to be charged to 744700- RESTRICTED NON TAG EQUIP. This allows the University to track and account for equipment that may ultimately go back to the sponsor at the conclusion of the award/project.

Finance has updated the Equipment Inventory page to include definitions for all equipment inventory codes, the type of tag issued by object code (“Red” or “Green,” and whether IDC is taken on that particular object code when it is charged to a sponsored award. For the new object code information and other resources and information on the capitalization of equipment please visit the Equipment Inventory page.

Any planned fabrication should be disclosed to ORSP during the development stage of a proposal within the budget justification section.

Questions about the equipment inventory process, please contact finance.equipmentinventory@ohio.edu

Questions about fabricated/capital equipment, related to external grants, please contact finance.grants@ohio.edu