UNM Federal Government Property Quick Guide

The University of New Mexico (UNM) Government Property Management Quick Guide is designed to be a quick guidance tool for the acquisition, management, control and disposition of property furnished by or purchased for the Federal Government and in control of UNM in support of on-going government contracts.  Additional reporting and management requirements may be imposed by Government Agencies or individual grants or contracts.  UNM and UNM HSC reference a listing of Government Agencies’ web page links,  UNM or HSC

For detail procedures and guidance, refer to UNM’s Government Property Management Guide. 

Acquisition of Property

The University of New Mexico may acquire, maintain, protect, use, and dispose of property required to perform its mission. UNM Property Management and Control (Policy 7710), states that inventoried property is defined, with one exception, by the following three criteria: 1) The cost is greater than $5,000, 2) the property is moveable and 3) the property has a useful life of more than one (1) year. Inventoried property costing more than $5,000 is also defined as equipment and is capitalized on UNM's financial statements and is depreciated.  Computers, however, are treated as inventoried property regardless of cost.  In most cases the cost of a computer is less than $5,000, in which case it is not capitalized and is not depreciated.  This will apply to all Government property under UNM’s accountability, stewardship, possession or control, including its subcontractors.

There are currently acceptable methods for purchasing goods, which include the Purchasing Card (PCard), the Purchase Requisition, and/or reimbursement through the DP-EZ process.

Government Furnished Equipment (GFE) is equipment furnished (not purchased) to UNM by the sponsoring government agency. Ownership of this type of equipment is retained by the government agency.

For Government property, account 9040 (Equipment Non UNM Titled) is used when:

  • Equipment is purchased on a contract or grant which states that the equipment is the property of the funding agency.
  • UNM will not have title to the equipment being purchased.
  • It is movable and has a life that is greater than one (1) year.

Main and HCS’s Contract and Grant Accounting (CGA) will notify Property Accounting when items are to be coded under account code 9040 to be properly monitored as non UNM titled property.

Receipt of Government Property

When either contractor-acquired Government property or Government-furnished property is received, the receiver will determine that the correct items are being received and that there is no visible damage. The receiver screen in Banner or LoboMart will document the received item(s), including the date and time of receipt.

Inventorying Government Equipment

The office of Property Accounting maintains the University Inventory System, a database containing information on each item of property valued over $5,000 and certain computer items such as laptops, desktop workstations, and tablets.  All required property records are captured in Banner and the Inventory Database in compliance with FAR52.245-1(f)(1)(iii)(A).

For Government Furnished Property, the code “GF” will be used as the Acquisition Method to indicate Government Furnished Equipment.  Also, the “Title to” will indicate “FG”, which means Federal Government.  Government Furnished Equipment does not depreciate.  The office of Property Accounting forwards to the department a report identifying specific item(s) as having been recently acquired by the department.  Property tags are included with the report and the department is responsible for placing the tags on the item(s) in a location that is easily identifiable.

Records of Government Property

UNM will maintain property records that will provide a complete, current, and auditable record of all Government property transactions.  These records will be maintained by the Property Accounting Department and the departments’ Inventory Contacts, in accordance with FAR 52.245-1.  UNM maintains complete records via Banner, WebXtender, Inventory database, Property Accounting files, and departmental files.

Physical Inventory

Government-owned property will be inventoried, at a minimum, once a year. This will be accomplished no later than the wave due date assigned to each department for their annual physical inventory. The PI (Principal Investigator) and the Inventory Contact will be responsible for validating the inventory of Government property.

Subcontractor Control

In the rare case that Government-owned equipment is required by a subcontractor, the same property control requirements that are placed on UNM will be flowed down to the subcontractor. Property management requirements, flow-down clauses, extent of liability for damage or loss, and annual inventory reporting will be included in all subcontracts.


UNM will provide reports of discrepancies, loss of Government property, physical inventory results, audits and self-assessments, corrective actions, and other property related reports as directed by the Contracting Officer.

Utilizing Government Property

UNM will ensure that it will use Government-owned property, either furnished or acquired under a specific Government contract, only for performance under that Government contract, unless otherwise provided for in the specific contract or approved by the cognizant Government Contracting Officer. UNM will not modify, cannibalize, or make alterations to Government property unless the contract specifically identifies modifications, alterations, or improvements as valid work to be performed.  Equipment acquired by UNM with Government funds shall not be used to provide services to outside organizations.


The Department is responsible for the preventative maintenance of Government property in its possession, unless otherwise specified in the Government contract. The PI will be responsible for the proper maintenance of Government property under his control and/or use.  Schedules and maintenance records will be maintained by the department’s Inventory Contact.

Property Closeout

Property Accounting will submit a "Property Closeout Report" to the requesting fiscal monitor. If Government Property is noted, an inventory list will be sent to the department requesting a physical inventory of the equipment. The results of that inventory will be documented in the Property Closeout Report. The report will then be sent to the CGA fiscal monitor to be included in the final reconciliation package to the respective Government agency.  CGA will review the requirements within the award for all equipment and loaned equipment and verify that the requirements are completed; i.e., are Inventory Reports required. CGA will also verify that the property is classified appropriately (account codes 9000 or 9020 for UNM Titled, 9040 for Non-UNM Titled, 9060 for Fabricated Equipment).

Relief of Stewardship Responsibility for Disposition

UNM will be accountable for Government property in its possession and in its subcontractor’s possession until relieved of stewardship responsibility for one or more of the following: (1) property is consumed or expended, or otherwise accounted for in performance of a Government contract, including reasonable inventory adjustments as determined by the Property Administrator, or granted relief by the Property Administrator due to loss in accordance with FAR 52.245-1(f)(1)(vii); (2) property is shipped or delivered from the UNM facility; or (3) property is disposed of in accordance with the instructions in FAR 52.245-1(j)&(k).

Self-Assessment Program

As prescribed in FAR 52.245-1(f)(2), UNM will perform “periodic internal reviews and audits” by the UNM Internal Audit Department. Each fiscal year, the Internal Audit Department develops the annual Audit Plan and presents it to the Audit and Compliance Committee for its review and approval. This Audit Plan is primarily based on a University-wide risk assessment. Please see their risk assessment methodology at https://iaudit.unm.edu/. The results of these reviews and audits will be made available to the Government Property Administrator upon request.