Generally, states are required to follow their own laws and procedures for using, managing and disposing of equipment during the grant period. Absent state procedures you can find the minimum requirements in 200.313 for managing equipment (including replacement equipment), whether acquired in whole or in part under a federal award, until disposition takes place.
Property records must be maintained through the life of the property that include:
- a description of the property,
- a serial number or other identification number,
- the source of funding for the property (including the FAIN),
- who holds title,
- the acquisition date,
- cost of the property,
- percentage of Federal participation in the project costs for the Federal award under which the property was acquired,
- the location,
- use and condition of the property,
- Status of the property including any ultimate disposition data including the date of disposal or sale price of the property.
If states subgrant funds, they must ensure their subgrantees follow the requirements at 2 CFR 200.313 for equipment which provide the parameters for equipment inventories. This is a long-standing requirement under federal grants. At closeout, grantees inform EAC how any remaining equipment will be used once the grant closes.