91PORN

The process for placing fabrications into service is discussed in 3.6 Placing Fabrications in Service. A fabrication must have a completion or in-service date. In most cases, fabrications should be completed and placed in-service with sufficient time remaining during the period of performance for the functioning fabrication to benefit the award. During award closeout, fabrications must be accounted for. The status of a fabrication at award closeout may be one of the following:

1. The fabrication is complete and in service. Costs for a fabrication may be allocated to more than one fabrication ST. When the fabrication is completed and in-service, the department should report all fabrication STs to PAO in order to accurately capture total cost of the fabrication in the university property record.
2. Additional work on the fabrication is needed before it can be used for its intended purpose. Work and expenditures for the fabrication will continue on a new fabrication ST. If work on the fabrication continues on a new ST, the same tag number and subclass is assigned to the new fabrication ST. Using the same naming conventions in the ST facilitates the reconciliation of all fabrication costs and ensures that the total cost of the fabrication is accurately entered into the university property record.
3. The total cost of the fabrication never reached the $5000 threshold, or the fabrication does not have a useful life of at least one year and the component costs must be moved to a different non- fixed asset account code to complete the financial closeout.

Next Section: Department Closeout Property Report
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