Oregon State University

903: Reporting & Inventories

Property Management Policy & Procedure Manual
Section 900: Sponsored Research and Federal Property
Effective: 07/01/1996
Revised: 01/18/2012


To properly perform periodic physical inventories requested by sponsors and to complete appropriate reports.

Background Information

Federal property is reviewed every two years as part of OSU's biennial physical inventory.  In some cases a federal agency or other sponsoring organization may require an annual or more frequent inventory of equipment.  The Department of Defense (DOD), NASA and the Department of Energy (DOE) require inventories according to the following schedule:

  • October 15th of each year, OSU completes summary reports of values for various DOD-owned property categories, plus additions and deletions on form DD 1662 and submits them to the Office of Naval Research in Seattle.  The DD 1662 is used for government owned property on Department of Defense contracts and is effective as of September 30th.  This form is not required for DOD grants, only contracts.
  • October 15th of each year, OSU completes summary reports of values for various NASA-owned property categories on NASA form 1018 and submits them to ONR in Seattle (or to the appropriate national lab, such as JPL).  This form is completed for NASA contracts or sub-contracts with NASA-owned property but is not required for grants.
  • October 15 of each year, NASA-owned property on research grants is reported.  There is no specific form for grants.  A simple memo and a complete inventory list are sent to the NASA office in charge of the award.  Negative reports (in the form of a memo stating that there is no government owned property accountable to a given award) are required for grants in effect on/before October 19, 2000.  The new NASA Grant Handbook does not require negative reports for grants awarded after October 19, 2000.


The reporting of equipment and taking of physical inventory will be accomplished as required by the grant or contract, OMB Circular A110 (Property Standards section), OMB Circular A21, the Federal Acquisition Regulations (FARs), and the NASA Grant Handbook.

When federally owned property is no longer needed to perform the contract (also called excess property), the Principal Investigator (PI) is responsible for informing Property Management.


Reporting and Inventories Required By Sponsor

Responsible Party Action

Business Affairs, Fixed Assets

Generate a list of property accountable to each award and submits it to the Principal Investigator or the department's inventory coordinator, for a physical inventory. This inventory list includes each asset's recorded condition.

Principal Investigator (PI)

Conduct a physical inventory using the list and communicates to Business Affairs, Fixed Assets the property's (1) current location, (2) current condition, and (3) if it still needed for current project. Any discrepancies must be explained and communicated to Business Affairs, Fixed Assets.

Business Affairs, Fixed Assets

Analyze data to complete and submits the appropriate forms to the Office of Post Award Administration (OPAA) for final signature.

Office of Post Award Administration (OPAA)

Sign the original forms, retains copies, and forwards the originals to the appropriate agency.

Reporting of Lost, Damaged or Destroyed Property

Responsible Party Action

Principal Investigator (PI)

  1. Promptly identify, investigate and report incidents of loss, damage and destruction of government owned property in accordance with instructions in the award documents. 
  2. Fully document each incident with the following information (1) What happened, (2) where, (3) when, (4) how, and (5) who was involved.
  3. Notify the following parties within five working days of the loss:
  • The Sponsor's Contract Officer;
  • OPAA for coordination of reporting procedures;
  • Departmental Inventory Coordinator (for processing of a Property Disposition Request (PDR) if the asset cannot be repaired);
  • Business Affairs, Fixed Assets, for notification of the sponsor's Property Administrator, and preparation of requests for relief of accountability;
  • The State Police, if the event is the result of criminal activity;
  • Risk Management.

Business Affairs, Fixed Assets

  1. Submits the information provided by the PI to (1) the sponsor's property office requesting release of accountability, and (2) OPAA.
  2. Upon receipt of the release, inputs the PDR into FIS Banner.

Note: Even though Federally owned property is not insured by the State of Oregon, Risk Management maintains records of certain types of loss and damage and should be notified.

Reporting of Excess Equipment

Responsible Party Action

Principal Investigator (PI)

  1. Determines when equipment is no longer necessary for the performance of the contract or award.
  2. Prepares list of excess equipment and submits to Business Affairs, Fixed Assets.

Business Affairs, Fixed Assets

  1. Prepares and submits either a "request for disposition" letter or Form 1428 - Inventory Schedule B to (1) the sponsor's property office, and (2) OPAA in accordance with FAR 45.606. (Such schedules are used for screening with other Federal agencies so that the equipment may be redirected to another agency.)
  2. Upon receipt of sponsor's instructions for equipment disposition, forwards information to departmental inventory coordinator.
Department  Complies with instructions (returns equipment to sponsor, ships to a third party, sends to OSU Surplus Property Department, etc.)

Contact Info

Site Maintained by: Office of Human Resources
Oregon State University, Corvallis, OR 97331
Contact us with your comments, questions and feedback
Copyright © 2009 Oregon State University | Disclaimer
Copyright ©  2014 Oregon State University