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(1) Aet[vities sponsored by the FmHA. ('2_) Activities sponsored by other Federal agencies. b) During the time that nonexpendable personal property is held foe use on d~e project for which it wa~ acquired, the Grantee shall make it avaBable for use on od:er projects if such other use will not interfere with the work on the project for which the property was originally acquired. First preference for such other use shall be Wen 2 D spos t on of ionexpendab e property. When the Gran[ee no longer needs the property aa provided in paragraph (a) above, {he property may be used for other acd~,ities in accordance'with thc {~llowing stands;ds: (b) Nonexpemtahle personal property wids a unit ~cqlfisition co~[ o[ S1,000 or more. The Grai~tee may retain amoun{ of compensation shall be computed by auplying the percentage of Federal participation in the cost of the original pro~ec[ or pr0~am to die cu~ent fair il~arket value of the property. If the Grantee has no need for the Grantor agency. requirement exists within ti:at agent}r, the availability of the property shall be reported, in accordance with the guide- es of t e Federal Property' Niana~ement Keh~d~tions (FPMR), to the General Services Administrat{on by the procedures shall govern: 1[ s~ instructed or if disposition instructions are not issned within 120 calendar days after the Grantee's (2) If the Grantee is instructLd to ship the properly elsewhere the Grantee shall be reimbursed by the (3) If the Grantee i~ instrncted to otherwise dispose of tile property, the Grantee ~hall be rehnbursed by the or other identification number; acquisition date and cost; source of the propertr; percentage (at the end of budget year~ of Federal pardcipat{on in fixe co=t of the project for which the property was acquired; location, use and (b) A phys{cal inventory of property shall be taken and die rest:Its reconciled with tile property records at least (c) A con{roi systena shall be in effect to insure adequate safeguards to prevent loss, damage, or theft of the property. Any I~ss. damage, or theft of nonexoendable property shall l~e invesdgaged and fully documented. (d) Adequate maintenance procedures shall be hnplemented to keep the property in good condition. (e) Pro ~er sales procedures shall be established for umxeeded property which would peovide for competition to operattonaZ wa~er system as provided ~n connection with this phase of improvements. M. Provide Financial Managemen~ Systems which ,.','ill include: 1. Accurate. current, and complete disclosure of the financial results of each grant. Fi~:ancial repotting will be on an accrtla{ basis. 2. Records which identify adequately tile sonrce and application of funds for grant-supported activities. Those records shall contain information pertaining to grant awards and authorizations, obligations, unobligated balances, assets, liabilities, otll[ays, and inconle.