Finding 2024-003 – Procurement and Suspension and Debarment (Significant Deficiency and
Noncompliance)
Information on Federal Program(s) Research & Development Cluster- ALN#10.205
Criteria: Criteria or specific requirement: The Federal Government requires that all procurement
transactions for the acquisition of property or services required under a Federal award must be
conducted in a manner providing full and open competition consistent with the standards of
2 CFR section 200.319 and 2 CFR section 200.320. In addition, per the Uniform Guidance CFR
200.303, nonfederal entities receiving federal awards are required to establish and maintain internal
controls designed to reasonably ensure compliance with federal laws, regulations and program
compliance requirements.
Condition: The University did not maintain complete documentation of price quotes before entering
into procurement transactions that exceeded the small purchase threshold.
Cause: Administrative oversight and insufficient internal controls.
Effect or Potential Effect: Noncompliance with federal procurement standards.
Questioned Costs: None.
Context: For 2 of 40 procurement transactions tested, the University provided sole source
justifications which indicated the rationale for not obtaining the required price quotes was that the
vendor was on the University’s preferred vendor list. The University policy that was in effect during
the fiscal year did not include a preferred vendor list, and we were, therefore, unable to determine
how the preferred vendor list was established or maintained.
Repeat Finding: No similar findings identified in the prior year.
Recommendation: We recommend that the University enhance its policies and procedures to
ensure that procurement transactions are appropriately documented.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-003 – Procurement and Suspension and Debarment (Significant Deficiency and
Noncompliance)
Information on Federal Program(s) Research & Development Cluster- ALN#10.205
Criteria: Criteria or specific requirement: The Federal Government requires that all procurement
transactions for the acquisition of property or services required under a Federal award must be
conducted in a manner providing full and open competition consistent with the standards of
2 CFR section 200.319 and 2 CFR section 200.320. In addition, per the Uniform Guidance CFR
200.303, nonfederal entities receiving federal awards are required to establish and maintain internal
controls designed to reasonably ensure compliance with federal laws, regulations and program
compliance requirements.
Condition: The University did not maintain complete documentation of price quotes before entering
into procurement transactions that exceeded the small purchase threshold.
Cause: Administrative oversight and insufficient internal controls.
Effect or Potential Effect: Noncompliance with federal procurement standards.
Questioned Costs: None.
Context: For 2 of 40 procurement transactions tested, the University provided sole source
justifications which indicated the rationale for not obtaining the required price quotes was that the
vendor was on the University’s preferred vendor list. The University policy that was in effect during
the fiscal year did not include a preferred vendor list, and we were, therefore, unable to determine
how the preferred vendor list was established or maintained.
Repeat Finding: No similar findings identified in the prior year.
Recommendation: We recommend that the University enhance its policies and procedures to
ensure that procurement transactions are appropriately documented.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance)
Information on the Federal Program: Research & Development Cluster-Multiple ALNs
Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including
replacement equipment), whether acquired in whole or in part under a Federal award, until
disposition takes place will, at a minimum, meet the following requirements;
(1) Property records must be maintained that include a description of the property, a serial number
or other identification number, the source of funding for the property (including the FAIN), who holds
title, the acquisition date and cost of the property, percentage of Federal participation in the project
costs for the Federal award under which the property was acquired, the location, use and condition
of the property, and any ultimate disposition data including the date of disposal and sale price of the
property.
(2) A physical inventory of the property must be taken and the results reconciled with the property
records at least once every two years.
(3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or
theft of the property. Any loss, damage or theft must be investigated.
(4) Adequate maintenance procedures must be developed to keep the property in good condition.
Condition: Documentation of a physical inventory performed was not available. Additionally, we
noted the University’s equipment listing did not contain all the required information, including an
identification number and the source of federal funding for the equipment, outlined in the criteria
above.
Cause: The University did not perform a physical inventory of assets purchased with federal funds
in the last two years.
Effect or Potential Effect: The University did not have appropriate documentation that a physical
inventory was performed.
Questioned Costs: None
Repeat Finding – No similar findings identified in the prior year.
Recommendation: We recommend the University strengthen its policies and procedures over
equipment management to ensure a physical inventory is performed every two years, at a
minimum. The equipment listing should include all required information to track capital asset
acquisitions purchased with federal funding.
Views of Responsible Officials: See Management’s View and Corrective Action Plan included at
the end of the report.