Space and Movable Equipment Inventory - Instructions, process and definitions
Equipment Property Standards. It states:
| (f) The recipient's
property management standards
for equipment acquired with Federal funds and
federally-owned equipment shall include all
of the following:
| (1) Equipment records shall
be maintained accurately
and shall include the following information.
( i ) A description of the equipment.
(ii) Manufacturer's serial number, model number,
Federal stock number, national stock number,
or other identification number.
(iii) Source of the equipment, including the award number.
(iv) Whether title vests in the recipient or the Federal
(v) Acquisition date (or date received, if the equipment
was furnished by the Federal Government) and cost.
(vi) Information from which one can calculate the percentage
of Federal participation in the cost of the equipment
not applicable to equipment furnished by the Federal
(vii) Location and condition of the equipment and the date
the information was reported.
(viii) Unit acquisition cost.
(ix) Ultimate disposition data, including date of disposal and
sales price or the method used to determine current fair
market value where a recipient compensates the Federal
awarding agency for its share.
(2) Equipment owned by the Federal Government shall be identified
to indicate Federal ownership.
(3) A physical
inventory of equipment shall be taken and
(4) A control system shall be in effect
to insure adequate
(5) Adequate maintenance procedures shall
be implemented to
(6) Where the recipient is authorized or
required to sell the
Last modified February 25 2004 07:46 AM