1.  What do I need to know about equipment and other capital assets?

Federally funded research equipment is subject to specific ownership, tracking, and use requirements. Refer to the specific notice of funding opportunity (NOFO) or notice of award, grant, or contract for details. The Division of Sponsored Programs can assist with questions about your proposal or award. Contact the office at dsp@uiowa.edu.

Equipment is defined as any item that costs $5,000 or more and has a useful life of more than one year (refer to Section V, Chapter 12 of the University of Iowa Policy Manual). 

Purchased and internally developed software has a capitalization threshold of $500,000. Software costs exceeding $500,000 are excluded from the modified total direct cost (MTDC) base, including for federal funding.

Refer to the UI Grant Accounting Office Property and Equipment page for procedures and other requirements related to tracking and transferring equipment.  

• UI Capital Assets Management is responsible for properly identifying, recording, and tracking all university capital assets.
• For sponsored projects, the UI Grant Accounting Office is responsible for submitting property reports to the sponsor.