Consumption of Materials/Supplies purchased on a sponsored agreement.
Consumption of Materials/Supplies purchased on a sponsored agreement.
The title
to supplies and other expendable property shall vest in WVU upon acquisition.
If
there is a residual inventory of unused supplies exceeding $5,000 in total aggregate
value upon termination or completion of the project or program and the supplies are
not needed for any other federally-sponsored project or program, the WVU department
can retain the supplies for use on non-Federal sponsored activities or sell them,
but must compensate the Federal government for it’s share.
To determine the value
of this compensation, please contact Property Management.