Body
I. Purpose
This policy ensures that The College of St. Scholastica (CSS) will be compliant with the provisions of the Federal Office of Management and Budget’s regulations including 2 CFR 200, Uniform Guidance. It provides direction to faculty and staff for the disposal of equipment purchased with Federal funds.
II. Policy
This policy applies to all Federally funded grant programs. After the grant end date, equipment purchased with Federal grant funds must be used for the original purpose for which it was
purchased as long as needed or useful. If no longer needed for its original purpose, the equipment may be reassigned according to Federal priorities until disposal. The College may dispose of items no longer in use or no longer in working order with a fair market value of less than $5,000 according to the Federal Grant Equipment Disposal Procedure. The College must request disposal instructions from the appropriate Federal agency for items no longer in use or no longer in working order with a fair market value of $5,000 or more. Fair market value will be determined based on information from the manufacturer, quotes, online comparisons, and/or supplemental information from the College’s Purchasing or IT Department.
Definitions
▪ Principal Investigator/Project Director (PI/PD) – The CSS employee responsible for
administering a grant project.
▪ Equipment – Equipment is tangible personal property (including IT systems) having a
useful life of more than one year and a per-unit acquisition cost equal to or greater than
$5,000.