Common use of Personal Property — Supplies Clause in Contracts

Personal Property — Supplies. For governmental subrecipients (24 CFR 85.33): • Upon termination of the subrecipient’s agreement with or award from the grantee, if there is a residual inventory of unused supplies exceeding $5,000 in total aggregate fair market value, and if such supplies are not needed for any other Federally sponsored programs or project, the subrecipient must compensate the grantee for the share of such supplies which were acquired with CDBG funds. For non-profit subrecipients, the requirements of 24 CFR 84.35 apply; that is, • The residual inventory of unused supplies exceeding $5,000 not needed by the subrecipient for CDBG activities must be transferred to the grantee for the CDBG program or can be retained after compensating the grantee. • In all cases in which the residual inventory of supplies is sold, the proceeds are considered program income.

Personal Property — Supplies. For governmental subrecipients (24 CFR 85.33): •  Upon termination of the subrecipient’s agreement with or award from the grantee, if there is a residual inventory of unused supplies exceeding $5,000 in total aggregate fair market value, and if such supplies are not needed for any other Federally sponsored programs or project, the subrecipient must compensate the grantee for the share of such supplies which were acquired with CDBG funds. For non-profit subrecipients, the requirements of 24 CFR 84.35 apply; that is, •  The residual inventory of unused supplies exceeding $5,000 not needed by the subrecipient for CDBG activities must be transferred to the grantee for the CDBG program or can be retained after compensating the grantee. •  In all cases in which the residual inventory of supplies is sold, the proceeds are considered program income.

Personal Property — Supplies. ‌ For governmental subrecipients (24 CFR 85.33): • Upon termination of the subrecipient’s agreement with or award from the grantee, if there is a residual inventory of unused supplies exceeding $5,000 in total aggregate fair market value, and if such supplies are not needed for any other Federally sponsored programs or project, the subrecipient must compensate the grantee for the share of such supplies which were acquired with CDBG funds. For non-profit subrecipients, the requirements of 24 CFR 84.35 apply; that is, • The residual inventory of unused supplies exceeding $5,000 not needed by the subrecipient for CDBG activities must be transferred to the grantee for the CDBG program or can be retained after compensating the grantee. • In all cases in which the residual inventory of supplies is sold, the proceeds are considered program income.