Fiscal Operations Manual
Section 700: Reserves and Investment Management
WARNING: THESE ARE NOT CURRENT POLICIES!!
Research Equipment Reserve Funds (RERF) may be used to acquire, repair, renovate, or improve equipment directly used for research. The equipment may be inventoried capital equipment =>$5,000 per unit, fabricated capitalized equipment, or minor equipment costing less than $5,000 per unit which lasts at least two years. Account code 40101 must be used when purchasing inventoried capital equipment, and account codes in the 202xx minor equipment series must be used when the item cost is less than $5,000. See PRO 210 Fabrication for specifics related to processing when constructing fabricated equipment units.
RERF funds can not be used to purchase or construct assets that are considered infrastructure (network wiring) or fixed building equipment (fume hoods, permanent lab benches); however, Building Use Credit (BUC) funds may be used for this purpose when appropriate.
The Research Office reviews all applications for eligibility before forwarding to the Research Council for competitive review and evaluation. The Research Council provides a prioritized list of recommendations for funding to the Vice President for Research, or their designee, based on the quality of the applications as reflected in the review criteria. The amount of the equipment awards are based on available funds. Information regarding the application process, award criteria and deadlines can be found online at the OSU Research website.
After the RERF funds are awarded, the Research Office initiates a budget increase to the recipient’s index associated with Equipment Allocation fund '001145'. The department should purchase the equipment using this index.