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subaward, for which a contract, Subrecipient grant agreement, or other means <br /> of legal transfer of ownership is in place. <br /> ii. All equipment, and supplies as applicable, purchased under this Agreement will <br /> be recorded and maintained in the Subrecipient's inventory system. <br /> iii. 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. Catalog of Federal Domestic Assistance (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. <br /> vii. 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 /> DHS-FEMA-EMPG-FY 18 Page 5 of 36 «Jurisdiction» OEM, E19-125 <br />