1. Purpose
This manual includes a description of the general roles and responsibilities of the Property Accounting Office (PAO) in the CU Boulder Campus Controllers Office as well as the procedures used by CU Boulder’s Office of Contracts and Grants (OCG) for asset management associated with sponsored projects. CU Boulder employees with responsibility for acquiring, using, maintaining, accounting for, or disposing of sponsored projects property should understand the procedures in this manual as well as the requirements set forth by the Property Accounting Office.
Property Accounting Office Roles and Responsibilities
The University of Colorado Boulder’s capital equipment is managed by the Campus Controller’s Property Accounting Office (PAO) using the University Property Control System, PeopleSoft Asset Management (PSAM). The Property Accounting Office provides the standards of property control for all university property in their manual Capital Equipment Standard Operating Procedures. This includes property owned by the University of Colorado Boulder and its subcontractors, and property owned by the federal and non-federal funders of sponsored projects to ensure compliance with general government requirements. The University Property Control System is subject to review and evaluation by state auditors and periodic review of federal auditors.
The PAO is responsible for the initial recording of all property acquired by the university and for maintaining a current and accurate property system that complies with federal, state, and university regulations. The PAO is responsible for the financial reporting of the capital assets on the university and state financial statements and providing equipment reports for federal and non-federal contracts, agreements, and grants.
Office of Contracts and Grants Management of Sponsored Projects Property
This sponsored projects property control manual addresses specific procedures and requirements associated with management of property purchased with sponsored projects funding and it is organized by three main topics:
- Acquisition: Includes purchasing, acquiring, receiving, and recording of capital equipment and Government property. Loaned equipment, transfers, fabrications, and Government furnished assets are also discussed.
- Use: Includes tagging, record keeping, reporting, inventory, movement, utilization, loans to other entities, and maintenance and storage of equipment.
- Closeout and Disposal: Addresses the process of asset disposition and award closure.