- Pub Code: WG213-11WEB
- Originally held on May 17, 2012
How to Carefully Manage Your Grant-Acquired Property
May 17, 2012 Webinar - Listen On-Demand or Get a CD!
When you have a federal grant (or subgrant), chances are good that a portion of the funds will be spent to acquire “stuff” — tangible items like equipment, supplies or real estate, or intangible ones like copyrights, patents and rights in data. Those transactions bring the responsibility of managing the acquired assets.
The On-Demand recording will be available immediately upon purchase* as a link within a PDF file of the accompanying written materials. CDs and printed materials are shipped via USPS.
What grants administrators need to know about federal grants-acquired property
While this task should be second nature to most of us, the challenge arises because the federal policies on management of grant-acquired property are very prescriptive in some places and very confusing in others. Adding to that are the government’s recently issued new forms and procedures for reporting on the grant-related property that your organization has in its possession. Meanwhile, the independent auditors who examine your federal awards will likely spend some quality time tracking down whether the rules have been followed. And, any departures they identify can translate into easily reported findings that will help them prove just how thorough they’ve been in their field work.
So, it’s smart to have this very visible aspect of your grant and subgrant management well-organized and fully compliant. This webinar will help you do just that by providing clear and practical answers to questions like:
- How are the various types of grant-acquired property defined?
- Who owns grant-acquired property?
- What restrictions exist for the use of grant-acquired assets?
- What specific federal management standards apply to equipment?
- What kinds of marking are required?
- How do we account for supplies that we requisition from our inventory?
- What grant-acquired property can we keep at the end of an award?
- What kind of permissions do we need to sell or transfer grant-acquired property?
- What are the federal government’s expectations for technology transfer?
- What is meant by the term “federal march-in rights”?
- How and when are we expected to report on these assets?
Bob Lloyd, a respected authority on the policies and practices associated with federal grants, contracts and subawards, will help you navigate through the arcane details of the federal requirements and fashion sensible organizational responses to these requirements.
Prerequisites: Some knowledge of federal grant management and audit requirements is helpful
Advanced preparation: None
Attendees will receive presentation slides as well as background materials.
BOB LLOYD is a respected authority on policies and practices affecting the award, administration and oversight of federal grants, contracts and subawards. Mr. Lloyd has nearly 40 years of experience in federal award implementation. Prior to starting his management consulting practice in Washington, D.C., in 1982, he served as the executive director of the Grants Management Advisory Service and held staff positions in two large federally funded organizations. Since then, he has been a consultant, trainer or advisor to award and audit units in sixteen federal award-making departments and agencies, and to recipient and subrecipient organizations and their professional advisors located in all 50 states, the District of Columbia, several U.S territories and 18 foreign countries. He is the principal author of several reference works on federal grants management and audits, and currently serves as contributing editor to Federal Grants News and Federal Auditing News, published jointly by Atlantic Information Services, NACUBO and NCURA. He also is a Charter Life Member of the National Grants Management Association and served on its Board of Directors for five years.
Who Should Attend?
- Finance directors
- Accounting staff
- Grant and contract managers
- Sponsored programs administrators
- Procurement specialists
- Property managers
- Internal auditors
- External auditors
The costs of webinars sponsored by Federal Fund Management Advisor are allowable charges to your federal grants and subgrants. Each of the sets of federal cost principles issued by OMB for federal awards administered by state, local, and tribal governments, colleges and universities, and nonprofit organizations explicitly states that the costs of training for employee development and vocational effectiveness are allowable. For your records, the specific citations are:
- OMB Circular A-21 (2 CFR 220), Appendix A, Paragraph J.51—Colleges and Universities
- OMB Circular A-87 (2 CFR 225), Appendix B, Paragraph 42—State, Local and Tribal Governments
- OMB Circular A-122 (2 CFR 230), Appendix C, Paragraph 49(a)—Nonprofit Organizations
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The On-Demand Recording will be delivered as a link within a PDF file of the accompanying written materials. Shipping will NOT be charged for this item.
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