Bi-annual Physical Inventory of Research Equipment Begins Tuesday, January 21, 2025

A notification has been sent to custodians and financial managers of fixed assets purchased on research awards to make them aware that the federal regulation, 45 CFR Part 75.320 (d), requires that a physical inventory of equipment purchased with federal funds be completed every two years. As such, the University is planning to physically inventory any research equipment purchased with grant funds to ensure compliance with this federal requirement beginning on Tuesday, January 21, 2025, and continuing over the next several weeks until complete.

Asset Services, an inventory management firm, has been engaged to complete the physical inventory and tagging. Drexel Real Estate and Facilities will coordinate with a representative from your school, college or department that has access to the assets in your space to schedule the inventory of your space. Asset Services will be escorted through the buildings over the next several weeks to complete this required physical inventory of research equipment only.

If you have any questions or concerns regarding the upcoming equipment inventory, please do not hesitate to contact me at  pjr27@drexel.edu.