Impact of acquiring government owned equipment

• Government owned equipment is subject to more stringent regulations on use, reporting and disposal. It is also subject to more frequent audits. Annual property reports required listing all equipment acquired and disposed of during the period (this includes subcontractor equipment)
  
  
• Government owned equipment must be tagged and recorded in Caltech's Fixed Asset database within a reasonable period of being received
  
  
• It cannot be used on any other projects without first obtaining prior approval from the funding agency
  
  
• Loss or damage must be reported to the Government agency. Property Services will assist in preparing this documentation. We are required to include an explanation of the time and origin of the loss, destruction or damage and we must be able to demonstrate by clear and convincing evidence that it was not as a result of willful misconduct or lack of good faith to establish and administer a system for safeguarding government property.
  
  
• When no longer required on a project Caltech must request either title or disposition instructions from the awarding agency/cognizant officer

Contact Property Services at ext. 3911 if you have any questions regarding government owned assets.