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I (I) Activities sponsored by thc FmHA. ' ' '(2) Activities sponsored, by other Fedet,l agencies. . ' (b) Durb~g the time that nonexpendable personzl property is held for us~ on the project for w~{ch i~ was ~cqu~ed the Grantee sh~i m~it ~v~a~le for use °n other projects if such °thee us~ wgl not interfere ~th thc work on t~e project for w~ic~ t~e property was originally aclu{red. F~st p~cfcl'ence for suc~ other use ~J be Wen to FmHA sponsored projects. S~cofl~ prc~erence w~ be ~vcn to other Fcder]l]y sponsarcd projects. 2. D~spositJon of nonexprnd~]e p~ope~y. W~en the Granter no longer ~ceds t~e proper~y ~ p~ovJded in par~aph (n) above, the property may ~e use~ for mher activities in accordance with the f~l]owing standards: (~) N~nexpcndable property ~th a unit acqubifion cost of less d~an $1.000. The Grantee may use the property for ot~rr accivitZes without r~mburscmcnt to thc Federal Government or sell the property and ~ta~n the pr~ceds. (b) Nonexpendable pt~ona]propezty whh a unit acqulshJon cost of $3,0D0 m more. The Grantee may t~e property for other uses providc~ t~at compensation ~ m~e to the ori~{n~ Grantor agency or its successor. The amount of compensation s~all be computed by apply{ag thc p~rcentagc of Federal participation in thc cost oC o~gina] project Or pro~m to tl~e cu~ent fait mat~et v~Jue of thc property. If thc Grantee has no need for thc pro, arty ~nd ~he pro,try has further use v~]ue, the ~tanter shall request disposition instructions from t~e Grantor agency. T~e Grantor agency shall determ~ne whether the'property can bc used to mee~ the agency's requirements. 1[ no xe~ubement ex,ts within I~at agency, the avagab~ity of t~e property ~aJ] be t~portea, ~ ~ccordance wit~ t~e lln~s of tee Fcder~l Prop~rtV ManaRtment Radiations (~MR), to the Gencr~l Sen~ces Administration by the Grantor agency to determine wber~cr a requirement for t~e propen), exbts Jn ot~er ~e~gr~ ~genrles. T~e agency shah ~ue instructions to t~ Grantee no hter th~ ~20 days after the Grantee request aaa the foUowlng procedures shall govern: (2 ~ ~[ so insc~uc(cd or if disposldon instructions arc not issued wltbln ] 20 calendar da)~ after d~e Grantee's request, t~: Grantee s~all sell Iht propcr~y and reimburse t~c Grantor agency an amounl computed b)' ~o t~e sales proceeds tee percentage of Federal participation in t~e cost of the ofi~naJ ptojec~ ot program. However, the G~a,tcc s~a]) bt~crmi,td m deduct and retain from t~e ~cdctal s~are SI00 ot ~cn percent of thc proceeds, wlfichcvet is ~tealct. lot the (:famce's sellin~ and handling ~2) if (he GTantcr i5 inst:ucicd to fl:ip Ihe property elsewhere the Grantee shall be tclmbu~scd I,y tl~c benefitting Federal aSency wi~h In amoun~ which is computed hy applying the percentage of the G~amcc (3) If the G~antet is instructed to otherwise dispose oldie property, the G:antee .hall be ~eimbu~std by G~antm agency fm such costs i. cur~ed in its d~posldon. 3. The Grantee's property management standards fm nonexpendable personal property shall also ~clude: (a) Property records which accurately proi.ide for: a description of the property: manu~actmcr's serial number o~ other i~entification number; ac~u~sltion date and cost; source of the proper~yl ~egcemage (at the end of budget year) of Federal pasticip~tlon in the cos~ of the project for which the proper~y was ~cqubefl; location, use and condition of the property and the date the in[ormadon was reproved: ~nfl ultlmate disposition data ~ncluding sales (b) A physical inventor)' of p~ope~y sha)~ be taken and the resuhs reconciled with ~he property records at least (c) A control system shall be in effect to insure adequate safe~a~ds to p~event loss, d~mage, or ~eft of the p~epe~ty. Any lbss. damage, or theft oCnonexptnd~ble property shall be invesfigaged and fully documented. (dj Adequate m~in~e.ance procedures shall be implemented to keep the property in good condition. (e) Proper sales Fvocedu~es sh~l be established for unneeded p~ope~)' which would pvo~de for competition the extent p~acticahle and ~esuh in thc highest ~essible ~eturn. ~ds Gra,..4grce,.e,:t cm,c~s fhc f~,llot,.i.g described ,,o.expc.ffablc prOl~c:ty (:~sc co,.hmaflo,~ sheets ~ .ccc~sa~'). operational ~,ater system as provtfled in connection g, lth this phase of M. P~odae Financial M2nagcment Sys~tms width will include: acc~u~ basis.