Records and Reports for Federal Property
Asset Management will maintain and retain federal property records and fulfill federal property reporting requirements. In addition, Asset Management is responsible for maintaining the records of all contractor acquired equipment and government furnished equipment.
Reason for Directive
The federal government requires this property to be tracked, and there are specific reporting and record retention requirements that must be met.
UF uses 3 special codes at the beginning of the tag number to identify federal property:
- 4910US – Owned by the US Government
- 4910AO – Owned by an agency like NASA
- 4910F – Owned by federal surplus or GSA
Examples of federal agencies who provide property to UF are the National Science Foundation (NSF), National Aeronautical and Space Administration (NASA), and the Governmental Surplus Administration (GSA) often referred to as CITRA at UF.
Federal Property Reporting Requirements
Asset Management will fulfill federal property reporting requirements.
- Asset Management will provide the dollar amount of government owned facilities, as well as the quantity of industrial plant equipment (IPE) accountable under each contract
- Reports will be provided for all Department of Defense (DOD) Property on the Tangible Personal Property Report SF-428
- Annual inventory reports will be provided to NASA for all property where title vests in the government
- Reports must be prepared on NASA Form 1018, Report of Government-Owned/Contractor Held Property and furnished to the contracting officer no later than October 15th of each year
- Reports will be provided to the Department of Education (DOE) on SF428, Tangible Personal Property Report
Federal Property Records
Asset Management will maintain and retain federal property records. Asset Management is responsible for maintaining the records of all contractor acquired equipment and government furnished equipment.
The property records file will be updated or adjusted upon receipt of Asset Management documentation indicating the payment for equipment or, in the case of government furnished equipment, the notice of receiving an item as shown on a DD Form 1149 or a contract modification.
Federal Property (Government Owned/Furnished Property)
For the purpose of this directive, government owned/furnished property refers to federally owned furniture and equipment, which has been made available to the University for use on a particular contract, grant, or through a specific program, the title of which has remained with the federal government.
11/30/2020: reviewed content
Asset Management: (352) 392-2556