4.4. Department Closeout Property Report
4.4. Department Closeout Property Report
When a final property report is required by the sponsor and fixed assets have been charged to the award, the department completes the Department Closeout Property Report (DCPR). This provides internal documentation of standalone permanent equipment, fabrication(s), and/or deliverable(s) purchased with award funds. To complete the DCPR departments:
- Review the award fixed asset financial details.
- Identify the tag numbers associated with each fixed asset purchase.
- Address any reportable residual inventory of supplies acquired with award funds.
- Confirm that fixed asset and supply purchases on the award meet the cost principles.
- Provide detailed information about the continued use of standalone permanent equipment, status of fabrications and/or delivery of sponsor-titled property (i.e., deliverables).
The DCPR will be due 30 days in advance of the sponsor’s deadline for the university to submit a final property report. Departments are notified by OCG when a DCPR is required for an ending award.