WESTAR Procedure #3: Property Management Procedures

Purpose:

These procedures are to be used to maintain accurate and up-to-date records of property purchased, in whole or in part, using federal grant funds.

Definitions:

Equipment – as used in these procedures means equipment as defined in 40 CFR 30.2: General Regulations for Assistance for other than State and Local Governments. In short, equipment is property purchased with grant funds costing more than $5,000 and having a useful life of greater than one year.

General Notes:

These procedures are intended to ensure that WESTAR handles equipment purchased using federal funds in accordance with 40 CFR 30.30-37, “Property Standards”. While historically WESTAR has not purchased equipment as defined above, maintaining appropriate records related to the purchase and disposition of relatively expensive supplies is good business practice. Accordingly, the following procedures are to be used when and if equipment is purchased using federal funds, and whenever supplies costing more than $2,000 are purchased and will be insured under WESTAR’s office liability coverage.

Process Steps/Descriptions:

  1. A record is to be maintained of all equipment and any supplies that are insured under WESTAR’s Office Liability coverage. In general, WESTAR insures office supplies costing $2,000 or more. The record should include:
  2. Name and general description of the property;
  3. An identification number, if the name and general description alone would not be sufficient to uniquely identify the property;
  4. Date of purchase and, if not purchased under WESTAR’s EPA grant, the source(s) of funding; and
  5. Location of the property.
  1. All equipment, and generally supplies costing more than $2,000 should be insured under the office’s liability coverage. Some supplies, for example software for which backups are available, need not be insured.
  1. All equipment purchased using federal funds vests with WESTAR provided that it is available at all times to carry out the federally funded project for which it was originally purchased. WESTAR will use all equipment for its useful life, or will use the retired equipment that retains a portion of its useful life as trade-in to offset the cost of replacement equipment. If not used as a trade-in or to otherwise offset the cost of new equipment, WESTAR will dispose of the equipment as directed by the EPA Project Officer.
  1. All equipment and insurable supplies will be inventoried at least once every two years whenever WESTAR’s Office Liability insurance coverage is renewed.
  1. All equipment purchased using federal grant funds must be maintained in accordance with manufacturer’s recommendations.

References:

  • Procedure #1: Records Management and Retention
  • Policy # GA-00-02: Contracting and Procurement
  • 40 CFR 30.34 Equipment

Property Management Procedures

Revised April 12, 2005

Revised May 11, 2006

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