Clemson University must record all non-expendable property with an acquisition value of $5,000 or more and a useful life of at least one year.
When contractor acquired or government furnished property is acquired for a sponsored program, the fixed assets section of Accounting Services will determine and affix an identification number on the equipment (when possible) and on all applicable documents (receiving report, purchase order voucher, etc.). Fixed assets will prepare and maintain inventory records for all federally owned equipment. Principal investigators and grants coordinators should make sure fixed assets always has the following information on sponsored program equipment:
- Decal number
- Item classification
- Administrative unit (department)
- Location (building and room)
- Purchase order number
- Purchase date (month and year)
- Fund code (source of funds used to purchase)
- Remarks [such additional information as vendor name and address, condition code, "federal surplus property," "title with U.S. government," contract number code (account number), description of component parts and/or description of item of which it is a part, etc.].
- Fixed assets will prepare inventory listings upon request by the PI or other authorized project personnel.
- Equipment ($5,000 or more)
At the time the property data sheets are prepared by fixed assets, a permanent decal is affixed to the item of equipment. This decal shows the serially controlled identification number, which has been assigned by fixed assets and included on the property inventory records. Should government equipment be received with an identification number already assigned or attached, it will be necessary to affix an additional identification number. A University identification number will also be assigned to identify this government property. Individual budget centers are responsible for maintaining inventories.