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ii. All equipment, and supplies as applicable, purchased under this Agreement will <br />be recorded and maintained in the Subrecipient's inventory system. <br />Inventory system records shall include: <br />A. description of the property <br />B. manufacturer's serial number, model number, or other identification <br />number <br />C. funding source for the equipment, including the Federal Award <br />Identification Number (FAIN) <br />D. Assistance Listings Number (formerly CFDA Number) <br />E. who holds the title <br />F. acquisition date <br />G. cost of the equipment and the percentage of federal participation in the cost <br />H. location, use, and condition of the equipment at the date the information <br />was reported <br />I. disposition data including the date of disposal and sale price of the <br />property. <br />iv. The Subrecipient shall take a physical inventory of the equipment, and supplies <br />as applicable, and reconcile the results with the property records at least once <br />every two years. Any differences between quantities determined by the physical <br />inspection and those shown in the records shall be investigated by the <br />Subrecipient to determine the cause of the difference. The Subrecipient shall, in <br />connection with the inventory, verify the existence, current utilization, and <br />continued need for the equipment. <br />v. The Subrecipient shall be responsible for any and all operational and <br />maintenance expenses and for the safe operation of their equipment and supplies <br />including all questions of liability. The Subrecipient shall develop appropriate <br />maintenance schedules and procedures to ensure the equipment, and supplies <br />as applicable, are well maintained and kept in good operating condition. <br />vi. The Subrecipient shall develop a control system to ensure adequate safeguards <br />to prevent loss, damage, and theft of the property. Any loss, damage, or theft <br />shall be investigated, and a report generated and sent to the Department's Key <br />Personnel. <br />VIOV <br />I. The Subrecipient must obtain and maintain all necessary certifications and <br />licenses for the equipment. <br />viii. If the Subrecipient is authorized or required to sell the property, proper sales <br />procedures must be established and followed to ensure the highest possible <br />return. For disposition, if upon termination or at the Grant Agreement End Date, <br />when original or replacement supplies or equipment acquired under a federal <br />award are no longer needed for the original project or program or for other <br />activities currently or previously supported by a federal awarding agency, the <br />Subrecipient must comply with the following procedures: <br />A. For Supplies: If there is a residual inventory of unused supplies exceeding <br />$5,000 in total aggregate value upon termination or completion of the <br />project or program and the supplies are not needed for any other federal <br />award, the Subrecipient must retain the supplies for use on other activities <br />or sell them, but must, in either case, compensate the federal government <br />for its share. The amount of compensation must be computed in the same <br />manner as for equipment. <br />B. For Equipment: <br />DHS-FEMA-EMPG-S-FY20 Page 5 of 35 City of Everett, E20-224 <br />