NOTE - POLICY HAS
BEEN SUPERSEDED SEE NEW POLICY AT: |
RESEARCH POLICY SERIES
POLICY AND PROCEDURE FOR FEDERAL PROPERTY
AT
MISSISSIPPI STATE UNIVERSITY
FEDERAL PROPERTY
1.1 Reference
The State of Mississippi has stringent requirements with regard to property. In addition, the Federal Acquisition Regulations (FAR) - Part 45 impose additional requirements for property furnished by, owned by, or purchased with federal funds.
1.2 Definitions
Appropriate definitions are provided for in the attached "Property Manual for Government Property" revised October, 1993, included in this policy by reference.
PROCESS
Specific processes for the purchase, inventory, reporting and disposal are required under
FAR Part 45. These processes are detailed in the attached policy manual.
APPROVALS
The attached Procedures Manual has been reviewed and approved by the Mississippi State
University's Cognizant Audit Agency, the Office of Naval Research, 101 Marietta Tower,
Suite 2805, 101 Marietta Street, Atlanta, GA 30303, as a part of the Property Systems
Survey concluded on June 16, 1993 and approved by reference on October 1, 1993.
PURPOSE
This policy shall provide by reference, Mississippi State University with procedures for
the purchase, inventory, reporting and disposal of Federal Property.
NON-COMPLIANCE
Non Compliance with the processes and procedures detailed in the Policy Manual can result
in Property Audit exceptions, fines for serious or repeated non-compliance, and suspension
of Mississippi State University from receiving federal funds.
OP 70.05
01/26/94
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Attachment A
Property Manual for Government
Property (PDF)
For information about this policy, contact the
reviewing department.
