Laserfiche WebLink
H. Location, use, and condition of the property at the date the information was <br />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 <br />trackable assets as applicable, and reconcile the results with the property records <br />at least once every two years. Any differences between quantities determined by <br />the physical inspection and those shown in the records shall be investigated by the <br />SUBRECIPIENT to determine the cause of the difference. The SUBRECIPIENT <br />shall, in connection with the inventory, verify the existence, current utilization, and <br />continued need for the equipment. <br />✓ . The SUBRECIPIENT shall be responsible for any and all operational and <br />maintenance expenses and for the safe operation of their equipment and trackable <br />assets including all questions of liability The SUBRECIPIENT shall develop <br />appropriate maintenance schedules and procedures to ensure the equipment and <br />trackable assets are well maintained and kept in good operating condition. <br />✓ i. The SUBRECIPIENT shall develop a control system to ensure adequate <br />safeguards to prevent loss, damage and theft of the property. Any loss, damage, <br />or theft shall be investigated, and a report generated and sent to the <br />DEPARTMENT'S Key Personnel. <br />✓ ii. The SUBRECIPIENT must obtain and maintain all necessary certifications and <br />licenses for the equipment. <br />✓ iii. 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 trackable assets or equipment acquired under a <br />federal 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 Trackable assets: If there is a residual inventory of unused trackable <br />assets exceeding $5,000 in total aggregate value upon termination or <br />completion of the project or program and the trackable assets are not <br />needed for any other federal award, the SUBRECIPIENT must retain the <br />trackable assets for use on other activities or sell them but must in either <br />case, compensate the federal government for its share. The amount of <br />compensation must be computed 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 <br />be retained, sold, transferred, or otherwise disposed of with no further <br />obligation to the federal awarding agency. <br />Items with a current per -unit fair -market value in excess of $5,000 <br />may be retained or sold. The SUBRECIPIENT shall compensate the <br />federal awarding agency in accordance with the requirements of 2 <br />CFR 200.313 (e) (2). <br />ix. Records for equipment shall be retained by the SUBRECIPIENT for a period of six <br />years from the date of the disposition, replacement, or transfer. If any litigation, <br />claim, or audit is started before the expiration of the six year period, the records <br />shall be retained by the SUBRECIPIENT until all litigation, claims, or audit findings <br />involving the records have been resolved. <br />b. The SUBRECIPIENT shall comply with the DEPARTMENT'S Purchase Review Process, <br />which is incorporated by reference and made part of this Agreement. No reimbursement <br />will be provided unless the appropriate approval has been received. <br />Mitigation Project Grant Agreement — REV 8/8/23 <br />Page 10 of 30 City of Everett, D25-042-Revised <br />