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Managing Federal Grant-Acquired Property

Webinar • Thursday, May 13, 2021 • 2:00-3:30 p.m. ET

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$249.00 Managing Federal Grant-Acquired Property (05.13.21) (On-Demand Recording)
Webinar Details

Prerequisites: Some knowledge of federal grant management and audit requirements is helpful

Recommended Field of Study: Specialized Knowledge and Applications

Program Knowledge Level: Basic

Advanced Preparation: None

The massive federal government response to the COVID-19 pandemic has meant that the country is awash in property that has been purchased with grant funds. The abundance of supplies, equipment, leased assets and even intellectual property has created significant internal control challenges for recipients and subrecipients of federal awards and fertile territory for auditors.

There’s a legitimate concern that, with all the disruption caused by COVID-19, federally funded organizations may get sloppy and slack off on important compliance policies on ownership, use, safeguarding and disposition of these valuable assets. So, even while federal grant-making agencies have been told by the Biden Administration that they can relax requirements for biennial inventories of equipment, there has been no “walk-back” on the detailed requirements related to grant-acquired property.

Since the rules on that property last much longer than the grant performance period itself, your accountability will stretch out, too. As such, it makes sense to understand the compliance vulnerabilities and best practices that surround the “stuff” you’ve been buying. In this webinar, you’ll learn to:

  • Differentiate between “government-furnished” and “grant-acquired” property — and understand why that’s important
  • Link purchasing actions with best property management practices
  • Define various types of grant-acquired assets and management prerogatives
  • Sort through confusing policies on copyrights, patents and other intellectual property
  • Determine cost allowability for computers and other electronic devices
  • Address issues of title and management of property in the hands of subrecipients
  • Choose acceptable accounting methods for withdrawal of assets already in stock
  • Create necessary property records with required data elements
  • Craft solid policies on authorized use, maintenance and safeguarding
  • Charge allowances for letting other organizations use grant-funded property
  • Comply with property reporting requirements, as appropriate
  • Decide among disposition options at the conclusion of a grant project or program.

Enroll in this fast-paced and thorough session to help you demonstrate accountability for the “stuff” you’ve been buying with federal grants. Join Bob Lloyd, principal of Federal Fund Management Advisor™, for this important session.

WHO SHOULD ATTEND:

  • Grant and contract specialists
  • Sponsored projects administrators
  • Principal investigators
  • Finance directors
  • Purchasing agents
  • Inventory handlers
  • Facility managers
  • Accounting staff
  • Internal auditors
  • External auditors   

Hand-out Materials:

Attendees will receive presentation slides as well as access to background materials.

Allowable Charges

The costs of webinars sponsored by Federal Fund Management Advisor™ are allowable charges to your federal grants and subgrants. The cost principles issued by OMB under its uniform guidance (and applicable to all types of awardees) state, “The cost of training and education for employee development is allowable” (2 CFR 200.472).

Attend this Live Webinar and Earn up to 1.5 CPE Credits

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  • Understand special issues confronting pass-through entities contracting with foreign organizations
  • Know which clauses flow down when crafting a subaward
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