- Government Property
- Property that is owned by or leased to the Government or acquired by the Government under the terms of a contract or sponsored agreement. Title to government property vests with the Government.
- Such property includes both University of Mississippi-acquired and government-furnished property as defined below:
- Government-Furnished Equipment
- Equipment owned by the Government but furnished to the University for use under a federally-funded project. Transportation and installation costs are not considered as part of the unit price for this purpose. Normally, the unit price of government-furnished equipment is provided on the document covering shipment of the property.
- Contractor-Acquired Equipment:
- Equipment acquired by the University with funds provided by the Federal Government.
- Contractor-Fabricated Equipment: Special purpose equipment that is assembled or fabricated and that results in an article of capital equipment. The fabricated unit consists of items or assemblies of parts that are interconnected and interdependent so as to become a new functional entity for a special purpose.
- Government Material
- Government property which may be incorporated into or attached to an end item to be delivered under a contract or which may be consumed in the performance of a contract. It includes, but is not limited to, raw and processed material, parts, components, assemblies, and small tools and supplies.
- Accessory Item
- An item that facilitates or enhances the operation of plant equipment but which is not essential for its operation.
- Auxiliary Item
- An item without which the basic unit of plant equipment cannot operate.
- Centrally Reportable Equipment (CRE)
- That plant equipment, special test equipment (including components), special tooling, and non-flight space property (including ground support equipment) which is (1) generally commercially available and used as a separate item or component of a system, and (2) is valued at $1,000 or more, and (3) is identifiable by a manufacturer and model number. (This applies to NASA property.)
- Facilities
- Industrial property (other than material, special tooling, military property, and special test equipment) for production, maintenance, research, development or test, including real property and rights therein, building, structures, improvements, and plant equipment.
- Industrial Plant Equipment (IPE)
- Per the DoD FAR Supplement, Subpart 245.301, Industrial Plant Equipment (IPE) means plant equipment with an acquisition cost of $15,000 or more used for cutting, abrading, grinding, shaping, forming, joining, heating, treating, or otherwise altering the physical properties of materials, components or end items entailed in manufacturing, maintenance, supply, processing, assembly, or research and development operations. IPE is further identified in AR 700-43/NAVSUP PUB 5009/AFM 78-9/DLAM 4215.1, Management of Defense-Owned Industrial Plant Equipment.
- Other Plant Equipment (OPE)
- Per the DoD FAR Supplement, Subpart 245.301, Other Plant Equipment (OPE) means plant equipment regardless of dollar value, used in or in conjunction with the manufacture of components or end items relative to maintenance, supply, processing, assembly or research and development operations. OPE excludes equipment categorized as IPE.
- Plant Equipment
- Personal property of a capital nature (including equipment, machine tools, test equipment, furniture, vehicles, and accessory and auxiliary items) for use in manufacturing supplies, in performing services, or for any administrative or general plant purpose. It does not include special tooling or special test equipment.
- Salvage
- Property that, because of its worn, damaged, deteriorated, or incomplete condition or specialized nature, has no reasonable prospect of sale or use as serviceable property without major repairs, but has some value in excess of its scrap value.
- Scrap
- Property that has no reasonable prospect of being sold except for the recovery value of its basic material content.
- Special Test Equipment
- Either single or multipurpose integrated test units engineered, designed, fabricated, or modified to accomplish special purpose testing in performing a contract. It consists of items or assemblies of equipment including standard or general purpose items or components that are interconnected and interdependent so as to become a new functional entity for special testing purposes. It does not include material, special tooling, facilities (except foundations and similar improvements necessary for installing special test equipment), and plant equipment items used for general plant testing purposes.