NOTE: Equipment purchased with federal funds can be retained for use for the same purpose (i.e., activities that meet the intent of the federal award) beyond the performance period.
All equipment:
Inventory of equipment purchased with federal grant funds, including program use, must be kept on file as long as the equipment has not yet been disposed.
Equipment with a purchase value greater than $5000 per unit must be tracked, maintained and inventoried per federal regulation 2 CFR 200.312 and must be done once every two years at least throughout the record retention period, discussed below. Property records must be maintained that include a description of:
● the property
● a serial number or other identification number
● the source of funding for the property (including the FAIN)
● who holds title
● the acquisition date, and cost of the property
● percentage of Federal participation in the project costs for the Federal award under which the property was acquired
● the location, use and condition of the property
● ultimate disposition data including the date of disposal and sale price of the property (2 CFR 200.313(d)).
Note: if an entity's internal process has an EQUIPMENT threshold of LESS than the federal threshold of $5000, the entity will apply these requirements to their threshold. For items considered highly walkable and non-capital, such as Chromebooks, laptops, small printers etc., it is best practice to continue to track and inventory those items as well.
Use/Disposal (2 CFR § 200.313)
If equipment is transferred to another school or location within the entity, priority must be given to programs funded by the federal government. If the physical location (school) will change, receipt of the transfer must be provided to LEA and retained. A transfer receipt must be created to include the following information: original location, new location, transfer date, details of the transferred item including item valuation (FMV), serial number, program under which the item was purchased, and signatures of employees with signature authority to do so.
If equipment was stolen, a copy of the police report and insurance claim, supporting valuation documentation (FMV), and final disposition method (e.g., lost, stolen, damaged, replaced, etc.) must be maintained.
If equipment ($5000 per item per 2 CFR 200.33, or the entity's internal threshold, whichever is lower) should need to be disposed of, please contact CDE Grants Fiscal for further instructions.
By checking this box, the entity agrees to the above as well as to ensure the retention of all supporting documentation regarding capital and non-capital equipment is retained for 3 years beyond December 2023, and is available for CDE's review upon request.
CERTIFICATION: