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iii. Inventory system records shall include: <br /> A. Description of the property; <br /> B. Manufacturer's serial number, model number, or other identification number; <br /> C. Funding source for the equipment, including the Federal Award Identification Number <br /> (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 was reported; <br /> I. Disposition data including the date of disposal and sale price of the property. <br /> iv. The Subrecipient shall take a physical inventory of the equipment, and supplies as <br /> applicable, and reconcile the results with the property records at least once every two years. <br /> Any differences between quantities determined by the physical inspection and those shown <br /> in the records shall be investigated by the Subrecipient to determine the cause of the <br /> difference. The Subrecipient shall, in connection with the inventory, verify the existence, <br /> current utilization, and continued need for the equipment. <br /> v. The Subrecipient shall be responsible for any and all operational and maintenance <br /> expenses and for the safe operation of their equipment and supplies including all questions <br /> of liability. The Subrecipient shall develop appropriate maintenance schedules and <br /> procedures to ensure the equipment, and supplies as applicable, are well-maintained and <br /> kept in good operating condition. <br /> vi. The Subrecipient shall develop a control system to ensure adequate safeguards to prevent <br /> loss, damage, and theft of the property. Any loss, damage, or theft shall be investigated, <br /> and a report generated and sent to the Department. <br /> vii. The Subrecipient must obtain and maintain all necessary certifications and licenses for the <br /> equipment. <br /> viii. If the Subrecipient is authorized or required to sell the property, proper sales procedures <br /> must be established and followed to ensure the highest possible return. For disposition, if <br /> upon termination or at the Grant Agreement End Date, when original or replacement <br /> supplies or equipment acquired under a federal award are no longer needed for the original <br /> project or program or for other activities currently or previously supported by a federal <br /> awarding agency, the Subrecipient must comply with the following procedures: <br /> A. For Supplies: If there is a residual inventory of unused supplies exceeding $5,000 in <br /> 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 Subrecipient must retain the <br /> supplies for use on other activities or sell them, but must, in either case, compensate <br /> the federal government for its share. The amount of compensation must be computed <br /> in the same manner as for equipment. <br /> B. For Equipment: <br /> 1) Items with a current per-unit fair-market value of$5,000 or less may be retained, <br /> sold, or otherwise disposed of with no further obligation to the federal awarding <br /> agency. <br /> DHS-FEMA-HSGP-UASI-FFY19 Page 5 of 38 City of Seattle, E20-095 <br />