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12-14-2020-R
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12-14-2020-R
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Page 12 <br />4. When equipment is no longer needed for a Federal program, it may be retained or sold with the Federal agency <br />having a right to a proportionate amount of the current fair market value. Proper sales procedures shall be used <br />that provide for competition to the extent practicable and result in the highest possible return. <br /> <br />Procedures for Disposition of Equipment: <br /> <br />a. The city will keep, sell, or otherwise dispose of the equipment with no further obligation unless disposal <br />requirements are specifically detailed in the grant. <br />b. A record of the date, reason, and method of disposal or sale will be maintained with the equipment <br />inventory. <br /> <br />Equipment purchased will be identified and kept in a capital asset listing. An equipment listing shall be <br />maintained that includes the following: <br /> <br />1. Asset number and description of the equipment <br />2. Location of the equipment <br />3. Depreciation method & years of expected life <br />4. Acquisition date <br />5. Cost of the equipment <br />6. Equipment classification (land, building, equipment, etc.) <br />7. Make, Model, & Serial number or other identification number <br />8. Vendor and invoice number to purchase equipment <br />9. Disposition data including date and sale price of the equipment <br /> <br />A physical inventory of the property will be conducted periodically, and the results will be reconciled with the capital <br />asset listing. A control system will be developed to ensure adequate safeguards to prevent loss, damage, or theft of the <br />property. Any loss, damage, or theft will be investigated. <br /> <br />Maintenance procedures are in place to keep the equipment in good condition. <br /> <br />Matching, Level of Effort and Earmarking <br />Source of Governing Requirements – The requirements for matching are contained in the A-102 Common Rule (§ <br />.24), OMB Circular A-133 (2 CFR section 215.23), program legislation, Federal awarding agency regulations, and the <br />terms and conditions of the award. The requirements for level of effort and earmarking are contained in program <br />legislation, Federal awarding agency regulations, and the terms and conditions of the award. <br /> <br />The city defines “matching”, “level of effort”, and “earmarking” consistent with the definitions of the OMB UGG - <br />Uniform Grant Guidance Compliance Supplement: <br /> <br />Matching or cost sharing includes requirements to provide contributions (usually non-Federal) or a specified amount <br />or percentage of match Federal awards. Matching may be in the form of allowable costs incurred or in-kind <br />contributions (including third-party in-kind contributions). <br /> <br />Level of effort includes requirements for (a) a specified level of service to be provided from period to period, (b) a <br />specified level of expenditures from non-Federal or Federal sources for specified activities to be maintained from <br />period to period, and (c) Federal funds to supplement and not supplant non- Federal funding of services. <br /> <br />Earmarking includes requirements that specify the minimum and/or maximum amount of percentage of the program’s <br />funding that must/may be used for specified activities, including funds provided to sub- recipients. Earmarking may <br />also be specified in relation to the types of participants covered. <br /> <br />In order to ensure compliance with these requirements, the city has implemented the following policies and <br />procedures:
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