Equipment Policy

Equipment Policy

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This policy is in place to outline responsibilities and expectations regarding equipment purchased with Health Foundation of South Florida funds.

Definition

Under this policy, equipment is defined as a unit item having an acquisition cost of $5,000 or more, and with a minimum life expectancy of one year or more.

Ownership & Utilization of Equipment

Ownership and title of equipment is vested in the organization receiving the grant award from Health Foundation to carry out a project or program.

Under this policy, it is the responsibility of the grantee to use the equipment for the intended purpose, as outlined in the grant application, during and beyond receipt of Health Foundation funding.

During the grant award period and for up to three years following procurement, the grantee is responsible for ensuring adequate safeguards are in place to prevent loss, damage, or theft of equipment purchased with grant funds. If such a system does not exist or is lacking in any way, the grantee must implement any necessary corrective actions.

The Foundation should be notified within 30 days if (1) damage, loss, or theft occurs to equipment during the grant period; (2) the grantee is unable to perform the proposed program activities;and/or (3) is unable to use equipment purchased with HFSF funds.The Foundation reserves the right to discontinue or withhold any future grant payments if a grantee has not fully complied with the terms and conditions of the grant.

If for any reason during the grant period the grantee is unable to perform the proposed activities with the equipment, the grantee must notify the Foundation within 30 days.The Foundation reserves the right to request that (1) the equipment be returned to the Foundation; (2) the equipment be sold and a designated amount be returned to the Foundation; or (3) the equipment be transferred to another organization. This request will be determined on a case-by-case basis.

Transferring Equipment to Another Institution

Forup to three years following the purchase of the equipment, the grantee is responsible for notifyinghis/her Health Foundation liaison ifintending to transfertitle/ownership of the equipment to another organization or subcontractor.

In the instance that ownership is transferred, Health Foundation retains the right to monitor the utilization of equipment. Moreover, the responsibility to ensure equipment is being used for the intended purpose will continue to rest on the grantee organization.

Discontinued Use of Equipment

At the end of the grant period and uptothree years following the purchase of the equipment,the grantee is responsible for notifyinghis/her Health Foundation liaison if the equipment is not used for a period of three months ormore.

The Foundation reserves the right to request that (1) the equipment be returned to the Foundation; (2) the equipment be sold and a designated amount be returned to the Foundation; or (3) the equipment be transferred to another organization. This request will be determined on a case-by-case basis.