[Code of Federal Regulations]

[Title 34, Volume 1]

[Revised as of July 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 34CFR74.35]



[Page 118]

 

                           TITLE 34--EDUCATION

 

PART 74_ADMINISTRATION OF GRANTS AND AGREEMENTS WITH INSTITUTIONS OF 

HIGHER EDUCATION, HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS--Table 

of Contents

 

                    Subpart C_Post-Award Requirements

 

Sec.  74.35  Supplies and other expendable property.



    (a) Title to supplies and other expendable property shall vest in 

the recipient upon acquisition. If there is a residual inventory of 

unused supplies exceeding $5,000 in total aggregate value upon 

termination or completion of the project or program and the supplies are 

not needed for any other federally-sponsored project or program, the 

recipient shall retain the supplies for use on non-Federal sponsored 

activities or sell them, but shall, in either case, compensate the 

Federal Government for its share. The amount of compensation shall be 

computed in the same manner as for equipment.

    (b) The recipient may not use supplies acquired with Federal funds 

to provide services to non-Federal outside organizations for a fee that 

is less than private companies charge for equivalent services, unless 

specifically authorized by Federal statute as long as the Federal 

Government retains an interest in the supplies.



(Authority: 20 U.S.C. 1221e-3, 3474; OMB Circular A-110)