[Code of Federal Regulations]
[Title 48, Volume 6]
[Revised as of October 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 48CFR1516.303-74]

[Page 32-33]
 
            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM
 
               CHAPTER 15--ENVIRONMENTAL PROTECTION AGENCY
 
PART 1516_TYPES OF CONTRACTS--Table of Contents
 
               Subpart 1516.3_Cost-Reimbursement Contracts
 
Sec. 1516.303-74  Determining the value of in-kind contributions.

    In-kind contributions accepted from a contractor will be addressed 
on a case-by-case basis provided the established values do not exceed 
fair market values.
    (a) Where the Agency receives title to donated land, building, 
equipment or supplies and the property is not fully consumed during 
performance of the contract, the Contracting Officer should establish 
the property's value based on the contractor's booked costs (i.e., 
acquisition cost less depreciation, if any) at the time of donation. If 
the booked costs reflect unrealistic values when compared to current 
market conditions, the Contracting Officer may establish another 
appropriate value if supported by an independent appraisal of the fair 
market value of the donated property or property in similar condition 
and circumstances.

[[Page 33]]

    (b) The Contracting Officer will monitor reports of in-kind costs as 
they are incurred or recognized during the contract period of 
performance to determine that the value of in-kind services does not 
exceed fair market values.
    (c) The value of any services or the use of personal or real 
property donated by a contractor should be established when necessary in 
accordance with generally accepted accounting policies and Federal cost 
principles.

[61 FR 14505, Apr. 2, 1996]