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Managing Grant-Acquired Property

Presented by Robert Lloyd
Recorded On: Wednesday, August 24, 2011
Duration: 90 minutes
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Grantees and subgrantees buy all sorts of things to support their federally funded projects — from simple office supplies to equipment, land and buildings. And many, particularly those involved in research and development projects, create property through copyrights and inventions. The rules about how to handle all of this “stuff” once it has been obtained are detailed, confusing and often subject to disagreements. That was illustrated recently when a dispute about a federally funded patent ended with a decision by the U.S. Supreme Court.

Broadly speaking, the federal requirements for property records, periodic inventory, and control procedures are particularly prescriptive and affect virtually all recipients. Federal agencies and auditors must determine whether property-related requirements have been followed to ensure that grant-acquired assets have been safeguarded and used only for authorized purposes. It shouldn’t be surprising that findings of noncompliance or control deficiency are common.

This audio conference will analyze the current government-wide requirements affecting the use, management, reporting and disposition of assets acquired with federal funds and provide clear guidance on maximizing their benefits to projects while minimizing related programmatic and administrative hassles.

During this audio conference we'll discuss:

  • What are the types of grant-acquired property?
  • What is “Government-furnished property” and how is it different?
  • How do we acquire property properly?
  • Who has the title?
  • Who has rights to intellectual property created or acquired with federal awards?
  • What are we allowed to do with it?
  • Can we keep it when the grant or subgrant is over?
  • What if we don’t want it anymore?
  • What records are we supposed to generate and maintain?

Attendees who will benefit from this audio conference include:

  • Grant and subgrant managers
  • Accounting and finance staff
  • Research administrators
  • Purchasing managers
  • Property managers
  • Principal research investigators
  • Independent auditors
Robert  Lloyd

Bob Lloyd is an independent management and government relations consultant and a respected authority on policies and practices affecting the acquisition, administration and audit of federal grants and contracts. The former executive director of the Grants Management Advisory Service, he has more than 38 years of experience in federal award implementation and oversight. Prior to starting his consulting practice in Washington, DC in 1982, he had experience administering grants and subgrants for three federally funded organizations. Since then, he has served as a consultant to 16 major federal awardmaking departments and agencies and to recipients, subrecipients, and their professional advisors in all 50 states, the District of Columbia and 18 foreign countries.