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<br /> eCFR—Code of Federal Regulations htips://www.ecfr.gov/cgi-bin/text-idx?SID=74dOb655O2cS49f3cl I df..
<br /> (1)Property records must be maintained that Include a description of the property,a serial number or other
<br /> identification number, the source of funding for the property(Including the FAIN),who holds title,the acquisition date,and
<br /> cost of the property,percentage of Federal participation 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 ultimate 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 least
<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 /> property.Any loss,damage,or theft must be investigated.
<br /> (4)Adequate maintenance procedures must be developed to keep the property in good coed€tlon.
<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)Disposition.When original or replacement equipment acquired under a Federal award is no longer needed for the
<br /> original project or program or for other activltles currently or previously supported by a Fedora awarding agency,except as
<br /> otherwise provided In Federal statutes,regulations,or Federal awarding agency disposition Instructions,the non-Federal
<br /> entity must request disposition instructions from the Federal awarding agency if required by the terms and conditions of
<br /> the Federal award. Disposition of the equipment will be made as follows,In accordance with Federal awarding agency
<br /> disposition 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 further obligation 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 faits to provide requested disposition Instructions within 120 days,items of equipment with a current per-unit fair-
<br /> market value In excess of$5,000 may be retained 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 participatlon In the cost 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$500 or ten percent of the
<br /> proceeds,whichever is less,for its selling and handling expenses.
<br /> (3)The non-Federal entity may transfer title to the property to the Federal Government or to an eligIble third 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 where a non-Federal entity fails to take appropriate disposition actions,the Federal awarding agency may
<br /> direct the non-Federal entity to take disposition actions.
<br /> [78 FR 78608,Dec.26.2013,as amended at 79 FR 75W,Dec.19,20141
<br /> §200.314 Supplies.
<br /> See also§200.453 Materials and supplies costs,Including costs of computing devices.
<br /> (a)Title to supplies will vest In the non-Federal 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 must 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§200.313 Equipment,paragraph(eK2)for
<br /> the calculation methodology,
<br /> (b)As long as the 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 less than private
<br /> companies charge for equivalent services,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 originally-authorized purpose,
<br /> and must not encumber the property without approval of the Federal awarding agency.When no longer needed for the
<br /> originally authorized purpose,disposition of the Intangible property must occur In accordance with the provisions In
<br /> §200,313 Equipment paragraph(a).
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