(i) The worth of donated residence has to be established in accordance Along with the accounting policies from the receiver or subrecipient with the following skills:
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When serious residence is no more wanted to the originally authorized purpose, the receiver or subrecipient will have to get disposition instructions from the Federal company or pass-through entity. The Guidance must specify one of the next disposition methods:
indicates PII (see definition With this section), aside from PII that has to be disclosed by legislation. Examples of PII incorporate, but are usually not restricted to, social protection selection; copyright selection; bank card figures; clearances, financial institution numbers; biometrics; day and place of beginning; mother's maiden title; legal, medical and financial documents; and academic transcripts.
If the recipient or subrecipient retains title into the property, it need to pay back the Federal company an quantity calculated by multiplying the percentage on the Federal company's contribution to the initial purchase (and fees of any advancements) by The present truthful market price of the assets.
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(2) A Bodily inventory on the assets need to be carried out, and the effects must be reconciled Using the residence data no less than as soon as every single two yrs.
(a) This section offers concepts to be utilized in creating the allowability of particular things involved with figuring out cost, As well as other necessities of the subpart. These concepts implement whether or not a specific Value merchandise is adequately treated as being a direct or oblique Expense.
(five) click here If your receiver or subrecipient is licensed or required to promote the property, correct income strategies should be in place to make sure the best feasible return.
(b) After the closeout on the Federal award, a marriage made underneath the Federal award might be modified or ended in complete or partially. This will likely only be finished with the consent from the awarding Federal agency or move-via entity along with the recipient or subrecipient, offered the obligations on the recipient or subrecipient referred to in paragraph (a) of this section, such as Individuals for assets administration as relevant, are regarded and provisions are made for continuing duties of the receiver or subrecipient, as acceptable.
(e) The records for software cash flow acquired following the duration of general performance must be retained for 3 several years with the close of the receiver's or subrecipient's fiscal year wherein This system profits is acquired.
The applicant's history of taking care of previous and existing Federal awards, which include compliance with reporting requirements and conformance towards the terms and conditions of Federal awards, if relevant;
(ii) The recipient or subrecipient needs to have published techniques for conducting technical evaluations and earning picks.
implies an entity that gets a Federal award directly from a Federal company to execute an activity beneath a Federal application. The term recipient will not contain subrecipients or people today which can be members or beneficiaries of your award.