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DocuSign Envelope ID:25158025-ADOF-4044-B3BF-3AB3BFDF53FD
<br /> eCFR—Code of Federal Regulations hi"://www.ecfrgov/cgi-binitext-idx?SM--74dOb655O2c549©cIldf..,
<br /> (1)property records must be maintained that Include a dascrlptlon of the property,a serial number or other
<br /> Identification number,the source of funding for the property(Including the FAIN),who holds Me,the acquiallion data,and
<br /> cost of the property,percentage of Federal partlalpation In the project costs for the Federal award under which the property
<br /> was acquired,the location,use and condition of the property,and any uitlmate disposition data including the date of
<br /> disposal and sale price of the property.
<br /> (2)A physical Inventory of the property must be taken and the results reconciled with the property records at toast
<br /> once every two years.
<br /> (3)A control system must be developed to ensure adequate safeguards to prevent loss,damage,or theft of the
<br /> properly.Any loss,damage,or theft must be Investigated.
<br /> (4)Adequate maintenance procedures must be developed to keep the property In good condition.
<br /> (5)If the non-Federal entity Is authorized or required to sell the property,proper sales procedures must be established
<br /> to ensure the highest possible return.
<br /> (a)01sposidon.When original or replacement equipment acquired under a Federal award Is no longer needed for the
<br /> original project or program or for other adivitlas currently or previously supported by a Federal awarding agency,except as
<br /> otherwise provided In Federal statutes,regulations,or Federal awarding agency disposition InMctions,the non-Federal
<br /> entity must request disposllIGn Instn clions from the Federal awarding agency If required by the terms and conditions of
<br /> the Federal award.DIspasitlon of the equipment will be made as follows,In accordance with Federal awarding agency
<br /> disimMon Instructions:
<br /> (1)Items of equipment with a current per unit fair market value of$5.000 or less may be retained,sold or otherwise
<br /> disposed of with no firthar oblig all on to the Federal awarding agency.
<br /> (2)Except as provided In§200.312 Federally-owned and exempt property,paragraph(b),or If the Federal awarding
<br /> agency fails to provide requested disposition Instructions within 128 days,items of equ€pment with a current per-unit falr-
<br /> market value In excess of$5.000 may ba retalned by the non-Federal entity or sold.The Federal awarding agency is
<br /> entitled to an amount calculated by multiplying the current market value or proceeds from sale by the Federal awarding
<br /> agency's percentage of participation In the coat of the original purchase.If the equipment Is sold,the Federal awarding
<br /> agency may permit the non-Federal entity to deduct and retain from the Federal share$600 or ten pement of the
<br /> proceeds,whichever is less,for Its selling and handling expenses,
<br /> (3)The non-Federal an*may transfer title to the property to the Federal Government or to an eligible thins party
<br /> provided that,In such cases,the non-Federal entity must be entitled to compensation for Its attributable percentage of the
<br /> current fair market value of the property.
<br /> (4)In cases whore a non-Federal entity falls to take appropriate disposition actions,the Federal awarding agency may
<br /> direct the non-Federal entity to take disposition actions.
<br /> VO FR 78608,Om 26,2013.as amended at 79 FR 751364,Dec.1S,2014)
<br /> §200.314 Supplies.
<br /> See also§200.453 Materials and supplies costs,including coats of computing devices.
<br /> (a)Title to supplies will vest in the non-Federst entity upon acquisition.if there is a residual Inventory of unused
<br /> supplies exceeding$5,000 In total aggregate value upon termination or completion of the project or program and the
<br /> supplies are not needed for any other Federal award,the non-Federal entity mud retain the supplies for use on other
<br /> activities or sell them,but must,In either case,compensate the Federal Government for its share.The amount of
<br /> compensation must be computed In the same manner as for equipment.See§20t1.313 Equipment,paragraph(eH2)for
<br /> the calcula@cn methodology.
<br /> (b)As long as ft Federal Government retains an interest In the supplies,the non-Federal entity must not use
<br /> supplies acquired under a Federal award to provide services to other organizations for a fee that Is lass than private
<br /> oampanles chaMe for equivalent saM as.unless specifically authorized by Federal statute.
<br /> §200.315 Intangible property.
<br /> (a)Title to Intangible property(see§200.59 Intangible property)acquired under a Federal award vests upon
<br /> acquisition In the non-Federal entity.The non-Federal entity must use that property for the ortginally-authorized purpose,
<br /> and must not encumber the property without approval of the Federal awarding agency.When no longer needed for the
<br /> orlglnatly authorized purpose,disposition of the Intangible property must occur to accordance with the provisions in
<br /> §200,313 Equipment paragraph(a).
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