Whenever a subrecipient wishes to dispose of surplus equipment purchased with grant funds, or change its use, the equipment must be returned to CVAD or be disposed of within the guidelines of the program. Equipment with a current per unit fair market value of $5,000 or less may be retained, sold or otherwise disposed of with no further obligation to CVAD or Federal awarding agency. Equipment with a current per-unit fair-market value in excess of $5,000 may be sold with the proceeds of the sale being multiplied by the awarding agency’s share of the equipment, with that amount to be returned to the CVAD.
There is no time limit on this requirement. Contact CVAD for guidance when disposing of equipment purchased with grant funds.
In the event of the termination or grant closure of a CVAD grant prior to the end of the grant term, programs should contact VSS Program Staff for instructions regarding equipment disposition.