4 FAH-3 H-660
ACCOUNTING FOR PROPERTY AND EQUIPMENT
(CT:FMP-79; 08-23-2013)
(Office of Origin: CGFS/FPRA/FAFM)
4 FAH-3 H-661 TRANSFERRED PROPERTY
(TL:FMP-13; 09-06-2002)
Financial assistance is at times provided by the transfer
of property rather than funds. Often this type of assistance is provided under
letters of agreement with host nations. The bureau, or post, making the
transfer will maintain a record of the transfer including a description of the
property transferred, the date of transfer, and the receiving agent. Grants
Policy Directive Number 17, Public Diplomacy Property Grants, issued by the
Office of Procurement Executive provides specific guidance for acquiring
tangible personal property to be transferred under a Public Diplomacy Program
Grant.
4 FAH-3 H-662 ACQUIRED BY RECIPIENT
(TL:FMP-13; 09-06-2002)
a. The Department does not fund financial assistance
activities that involve the purchase of real property. For the purposes of the
Department, financial assistance, property and equipment refers to an article
of nonexpendable, tangible, personal property having a useful life of more than
one year and an acquisition cost in excess of $5,000. Items with an acquisition
cost less than $5,000 are classified as supplies, and if otherwise allowable,
are chargeable as direct costs to the award. Items with an acquisition cost of
$5,000 or more are allowable as direct costs only if specifically permitted by
the award terms and conditions.
b. Typical grant provisions will provide that the grant
recipient gains title to property acquired with grant funds. However, if the
bureau determines that property and equipment acquired with award funds will
have a useful life in excess of any Federal purpose, the award may contain a
provision withholding title to such property. Under such conditions the bureau
may require the recipient to furnish the Department with a listing of all
nonexpendable property acquired with a value in excess of $25,000 prior to
completion of the project. In such cases, the cognizant bureau will receive
the listing and arrange for appropriate disposition of the property.
4 FAH-3 H-663 THROUGH H-669 UNASSIGNED