This is the ninth section in our thirteen part series on “The Busy Person’s Guide to Grant Management.”
HOW TO KEEP PROPERTY SAFE? DON’T SHARE!
Aren’t we taught as children that sharing is good? And don’t we all want to be trusting people? When it comes to safeguarding property purchased with Federal funds, sharing is not good and less trusting is a requirement.
So maybe you think that one Federal Grant looks like another when it comes to property use. Or you think it’s no big deal to put that property to use for the greater good of mankind. Start thinking “Stranger Danger!” As a Federal Grant Recipient you have responsibilities for keeping property safe from both external and internal threats.
The Busy Person’s Guide to Safeguarding Property
Property purchased with Federal funds must be held in trust for the beneficiaries of the Federal program or project.
The Grantee “steps in the shoes” of the Federal Government to ensure the property is used as authorized by the Awarding Agency.
This means safeguards should be in place to protect the property for loss as well as mis-use.
No sharing? Can’t we all just get along?
The Grant recipient needs to have processes and monitor that property purchased with Federal funds is not be used for other activities unrelated to the project or program objectives without approval of the Awarding Agency. This is an area that lots of Grant recipients get into trouble.
This duty to the Federal Government means that the Grantee must control the use of property to only authorized activities. That means you can’t use that really neat piece of equipment for activities that aren’t spelled out in the Grant, no matter how much you really, really want to.
Don’t assume that just because one Federal Agency purchased the equipment they will share with other Federal Agencies, or with any non-Federal activities.
Three more things to do
If the processes and monitoring weren’t enough, you must also ensure that property is adequately protected from:
- 1) Loss
- 2) Damage
- 3) Theft
The best time to address adequate safeguards is before you have a loss. That kind of goes in the category of hindsight being 20/20!
Here are some tips on ways to reduce your risk.
Three ways to stop losses
Some examples of ways to minimize the possibility of loss could include:
- 1) Secure access to storage areas
- 2) Heightened security monitoring
- 3) Proper training of employees who use equipment in the field
What if a loss happens?
If equipment is lost, stolen or damaged, the Grantee must both:
- 1) Fully investigate
- 2) Document the results of that investigation
For example, if a piece of equipment was stolen, a copy of the police report and claim of loss would be included with the documentation.
Don’t forget to notify the Feds
If the equipment is federally owned, prompt notification of the Awarding Agency is required.
A copy of the e-mail or other form of notification to the Agency representative should be included with the supporting documentation to substantiate that the Grant recipient is acting responsibly when it comes to safeguarding property.
P.S. Here’s even more free information.
Check out the Safeguarding Property Video Lesson.
Length: Approx. 3 minutes
Get your own very cool, one page “Quick Reference Guide: Safeguarding Property.”
(Just click on the link to download the .pdf file.)
This is the ninth section in our thirteen part series on “The Busy Person’s Guide to Grant Management.”
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