Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections

REGENTS’ POLICY MANUALSECTION 4—FINANCE AND MANAGEMENT4.13—CRITERIA FOR TRANSFERRINGEQUIPMENT AND/OR FUNDSThe criteria for determination of transferability of equipment and/or funds to another institution at therequest of faculty members terminating their faculty appointments here at the University and transferringactivities to another institution are as follows:1) At no time will title to assets vested in the University be transferred directly to theterminating faculty member.2) Transfer of equipment may be considered when:• It is or was the specific intent of the donor or granting agency that the equipmentis or was to support the work of the terminating faculty member rather than aprogram of the University and that the equipment ownership should betransferred to the institution to which the faculty is moving.• The equipment was purchased from funds supporting an ongoing program whichthe donor or granting agency will continue at the new employing institution.• The transfers of equipment must be has been authorized in writing by theappropriate contracting official and the Vice President for Research before thetransfer occurs.3) At no time will funds deposited with the University for the purpose of supporting thedeparting faculty member’s research, patient care or education program betransferred directly to the faculty member except under the provision of as may beallowed by the Board of Regents’ Professional Practice Plan policies.4) Funds may be considered for transfer to the departing faculty member’s newinstitution only when:• It was the specific intent of the donor or granting agency that the funds were/arefor the purpose of supporting the activity of the departing faculty member (ratherthan a program of the University) which specifically is being transferred byintent to the new institution employing the departing faculty member.• The transfers of funds was will be pre-authorized in writing by the appropriatecontracting official and approved by the appropriate dean/department chair andthe Vice President for Research.5) Funds shall not be transferred to another institution when residual funds remainfollowing completion of the program or project for which the funds were provided.(RM, 9-2-76, p. 14139; 3-29-00, p. 26909; 1-27-04, p. 28924)THE UNIVERSITY OF OKLAHOMA 251