UNIVERSITY OF VIRGINIA 201819 ETF GUIDELINES (DRAFT) UNIVERSITY OF

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University of Virginia

University of Virginia

2018-19 ETF Guidelines (DRAFT)


University of Virginia

2018-19 Equipment Trust Fund Guidelines


The Higher Education Equipment Trust Fund (ETF) was established by the General Assembly to meet a need for new or updated equipment for various educational and general programs in Virginia institutions of higher education. The State Council of Higher Education for Virginia (SCHEV) and the Virginia College Building Authority (VCBA) administer the ETF.


SCHEV is the primary interface with the University in the spending and reimbursement of ETF funds. As a recipient of these funds, the University is obligated to meet certain legal requirements associated with their use. Accordingly, the following information is provided to increase awareness of applicable State and University requirements for ETF equipment and to assist departments in preparing Departmental Request Lists and Purchase Requisitions to purchase ETF funded equipment.


These guidelines and the request list template can be downloaded from the Office of Financial Planning & Analysis (formerly Budget Office) website, http://www.virginia.edu/budget/forms.html.


The ETF process will be managed in phases for 2018-19. The first phase of approved allocations

(regular obsolescence funding and recurring allocations) will be budgeted as of July 1, 2018. Schools and units should develop and submit their Phase I ETF Wish-List request to the Fixed Assets Accounting Office upon receipt of installment. Phase I spending will be authorized upon the Fixed Asset Accounting’s review/approval and assignment of ETF priority numbers. For the second phase approximately $5.3 million is available for distribution for 2018-19. The Provost will invite ETF funding requests for the remaining ETF balances.


Goals of the ETF

The following are some of the goals of the ETF as outlined by the SCHEV.



Accordingly, allocations may be used to purchase technology and equipment for the following educational and general programs:








Equipment can be purchased for academic support (104), student services (105), and institutional support (106), provided the purchases are in support of the University’s technological restructuring goals. These goals include providing appropriate hardware for workstations for faculty, students and staff; and maintaining on-going funding for computer replacement. Allocations may not be used to purchase technology and equipment for use in public service programs and in the operation and maintenance of plant.

UVa Policy and Procedures for ETF Equipment

For more specific information about University policy and procedures concerning ETF equipment, departments should be familiar with the following section of the University’s Financial and Administrative Policies and Procedures Manual.


Policy X.C.1 – Equipment Trust Fund, http://www.virginia.edu/finance/polproc/pol/xc1.html

Procedure 10-32 - Controlling Equipment Trust Fund (ETF) Items, http://www.virginia.edu/finance/polproc/proc/10-32.html


Excerpts from the above University policy and procedures and other sources are outlined in the following sections of this guide.




ETF Stipulations

As in previous years, ETF monies are received by the State from the sale of bonds to the public. The proceeds from the sale are then used for the purchase of scientific, technical and other equipment by institutions of higher education. Although the ETF equipment is treated as UVA-owned from the its initial purchase/delivery, SCHEV effectively holds title to the equipment and will relinquish title to UVA only after equipment has met SCHEV’s defined inventory- hold- period (referred to as “ETF Lease Year”).


Retention periods for equipment procured with ETF funds in 2018-19 will fall into one of two categories based on the useful life of specific item:

 

(a) three years for equipment the institution designated as having a useful life of three years or less (i.e. laptop or desktop computers, computer monitors, scanners, iPads).

 

(b) seven years for equipment that the institution designated as having a useful life greater than three years.


Any questions you may have regarding the defined hold period for specific types of equipment should be directed to Gary Young, Director of Fixed Assets Accounting Office.


There are specific SCHEV restrictions that pertain to equipment purchased under ETF that must be met. To qualify, purchased equipment must meet ALL of the following six requirements.


0. Allocations must be used to purchase technology and equipment for the following educational and general programs: instruction (101), research (102), academic support (104), student services (105), institutional support (106), and sponsored program research (110). (See page 1 for definitions of each of these programs.)


0. The equipment must have a unit or system cost of $500 or more.


0. The equipment must have a minimum useful life of: 3 years as noted above under (a) and 7 years for (b).


0. The equipment must be maintained in good working condition until the defined hold period is met, after which full title will have been received and equipment can be surplused according to Surplus Property requirements.


0. The equipment must be used within the Commonwealth of Virginia, unless specifically authorized for use elsewhere by the Fixed Assets Accounting Office and if going outside the Continental US, it will also require Export Control’s approval.


6. Equipment must meet both SCHEV guidelines and GAAP (Generally Accepted Accounting Principles) which dictate that the current ETF equipment purchases must be received, paid and capitalized (placed-in-service as functional), and asset tagged within the current ETF 2018-19 budget year.

.


Additionally, ETF equipment, for which UVA has not received full title from the State may not be surplused, cannibalized, traded-in, or disposed of without the approval of the Fixed Assets Accounting Office. Stolen, damaged or lost ETF equipment must be promptly reported to the Fixed Assets Accounting Office. ETF owned equipment is subject to unannounced, on-site audits by SCHEV to verify the equipment’s condition, location and use.


The following purchases do NOT qualify as ETF equipment.



Functional Unit

To be eligible for ETF funding, individual equipment items must cost $500 or more, except when the item is part of a functional unit. A functional unit is defined as an assemblage of ETF instruments, modules and components that collectively perform a specific task and remain assembled as a unit. In the case of items that comprise a functional unit, the individual components may cost less than $500, but the aggregate cost of the functional unit must be $500 or more. Examples of functional units include (1) a computer, keyboard, monitor, printer and operating software, (2) oscilloscope with probes and (3) recording spectrophotometer with demountable cell assembly and windows. Items merely aggregated together so the group costs more than $500 are not a functional unit. For example, an order for 10 external drives costing $300 each would not constitute a functional unit. ETF stipulations provide that ETF tagged equipment must maintain its original integrity as a functional unit. Components of ETF functional units must not be interchanged with other units. Fabrications or internally custom-made equipment or systems will not qualify for ETF funding.


Upgrading Equipment

Upgrades (not maintenance or general upkeep of equipment) may be permissible using ETF funds for non-ETF equipment. The upgrade and equipment to be upgraded must meet the ETF requirements. The circumstances of the upgrade will be subject to review by SCHEV and may require the entire piece of equipment to be tagged as ETF equipment.


Request Lists

The equipment replacement allocation is determined by reviewing current inventory levels, excluding items which could not be located during Fixed Assets Accounting’s most recent inventory. The allocation methodology provides a prorated credit for obsolete inventory based on four inventory categories:


  1. 100% credit for non-obsolete inventory;

  2. 100% credit for inventory that has been obsolete for less than 3 years;

  3. 50% credit for inventory that has been obsolete between 3 and 6 years;

  4. 0% credit for inventory that has been obsolete more than 6 years.


The Office of Financial Planning and Analysis will distribute a memo outlining each respective school’s allocation with instructions for accessing the current ETF Guidelines and an ETF Wish-List spreadsheet template for completion. It is important that the template be filled out completely, including the heading (Date, School Name, SE award #) and submitted to the Fixed Assets Accounting Office by the designated deadline. There are several columns on the spreadsheet that the school is responsible for completing, as described below:


ETF Priority Number - Ignore. Assigned by Fixed Assets Accounting.


Program Code – Select from the accompanying list under “Program Codes”


Sub-School or Org Name- School’s org name or sub-name to be inserted for easier tracking of ETF commitments/spending.


Discipline Code and Description - Select from the accompanying list in Exhibit A.

Description - Keep this very general (i.e. “Computer”, not “Dell Latitude Computer”), do not include brand or manufacturer’s name, model number and specifications that may change before the equipment is actually purchased.


Total Cost - Include the total cost for each item. Each line should have 1 item. If 5 computers are included, copy the line 5 times. Note: if multiple items make up a system (i.e. computer & monitor, please list the system as one line item as “Computer w monitor”)


Matching Required - If the equipment is being used for Sponsored Programs, the grant must supply 50% or more of the total funding. If the item is for a sponsored program, include the total cost in this area. The spreadsheet will calculate the matching amounts.


%, Matching Amount and ETF Funds Required - These are all formulas; there is no need to input anything.



Each unit should critically assess their equipment needs to determine acceptable equipment. To allow for flexibility in the purchasing process, each unit’s Wish-List Request may total up to 130 percent of the unit’s ETF allocation. Units should forward the list via e-mail attachment to the Fixed Assets Accounting Office @ [email protected].


The University's total (Phase I & II) ETF equipment Wish-List will be forwarded to SCHEV for final approval. Upon approval each unit will receive its ETF Wish-List with the assigned ETF priority numbers. Only those items on the final approved list will be eligible for reimbursement from ETF funds. Any revisions to a previously approved list must include a letter of justification submitted by the Dean or Organization head in writing to the Fixed Assets Accounting Office. The letter will be reviewed for reasonableness before it is forwarded to SCHEV for approval.


If you have any questions, please do not hesitate to contact Gary Young in Fixed Assets Accounting at 4-4284 or [email protected] or Rohan Patel in Office of Financial Planning & Analysis at 3-0690 or [email protected]



2018-19 Tentative Schedule


  1. July 1, 2018 – The first phase of approved allocations (regular obsolescence funding and recurring allocations) will be budgeted. To allow additional flexibility, schools and units may develop and submit Interim ETF Wish-list request (provided by Fixed Assets Accounting upon request). The Fixed Assets Accounting Office will review and approve Interim requests on a weekly basis, July-August. We encourage the early submittal of initial request lists to begin the ETF spending cycle for Phase I. Purchase requisitions can be submitted by each unit against its SE award as soon as Fixed Asset Accounting’s review and assignment of priority numbers are provided to the school or unit.


  1. September – Total Phase I & II Equipment list submitted to SCHEV for review/approval.


  1. May 2019 – Bonds are sold to finance 2018-19 allocation.


  1. June 2019 – Reimbursements begin.


  1. August/September 2019 – Reimbursements are completed.

Exhibit A - Discipline Codes and Descriptions


Code

Description


Code

Description






202

Architecture


920

Nuclear Engineering

204

Landscape Architecture


921

Applied Mechanics

206

Planning


996

Electronic and Computer Eng

299

Architectural History


998

Systems Engineering

301

Asian Studies


999

Tech, Culture & Communication

307

Russian Studies


1002

Studio Art

310

European Studies


1003

Art History

401

Biology


1005

Music

402

Botany


1007

Drama

407

Zoology


1102

French

408

Pathology, Human and Animal


1103

German

409

Pharmacology


1104

Italian

410

Physiology


1105

Spanish

411

Microbiology


1109

Latin

414

Biochemistry


1110

Greek

415

Biophysics


1114

Scandinavian

417

Cell Biology


1115

Slavic Languages

418

Marine Science


1195

Asian & Middle Eastern Languages

422

Genetics


1198

Portuguese

425

Neuroscience


1203

Nursing

501

Commerce


1204

Dentistry

506

Business Management and Administration


1206

Medicine

701

Computer Science


1207

Medical Specialties

801

Education General


1214

Public Health

802

Elementary Education


1220

Speech Pathology and Audiology

803

Secondary Education


1223

Medical Technology

805

Higher Education


1299

Epidemiology

808

Special Education


1401

Law

810

Education of the Mentally Retarded


1501

English General

811

Education of the Gifted


1502

English Literature

816

Education of the Emotionally Disturbed


1503

Comparative Literature

818

Special Learning Disabilities


1504

Classics

820

Education of the Multiple Handicapped


1505

Linguistics

821

Social Foundations


1506

Rhetoric & Communications Studies

822

Educational Psychology


1507

Creative Writing

824

Educational Statistics and Research


1509

Philosophy

825

Educational Testing and Evaluation


1510

Religious Studies

826

Guidance and Counseling


1599

English as a Second Language

827

Educational Administration


1701

Mathematics Education

828

Educational Supervision


1702

Statistics

829

Curriculum and Instruction


1703

Applied Mathematics

830

Reading Education


1801

Military Science

831

Art Education


1802

Naval Science

833

Mathematics Education


1803

Aerospace Science

834

Science Education


1902

Physics

835

Physical Education


1905

Chemistry

836

Driver and Safety Education


1911

Astronomy

837

Health Education


1999

Environmental Sciences

896

Foreign Language Education


2001

Psychology

897

Social Studies Education


2003

Clinical Psychology

898

Instructional Technology


2105

FBI Academy

899

English Education


2202

Anthropology

901

General Engineering


2204

Economics

902

Aerospace Engineering


2205

History

905

Biomedical Engineering


2207

Government

906

Chemical Engineering


2208

Sociology

908

Civil Engineering


2210

International Relations

909

Electrical Engineering


2211

Afro-American Studies

910

Mechanical Engineering


4901

Interdisciplinary Studies

915

Materials Science


4903

Humanities and Social Sciences

919

Engineering Physics


5297

Radiation/Oncology







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