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AC 150/5100 Appendix 3 personal property furnished by the Federal Government or acquired with Federal funds are set forth below : a. Nonexpendable personal property ac- quired with Federal funds. When nonex- pendable personal property is acquired by a grantee wholly or in part with Federal funds, title will not be taken by the Federal Government except as provided in para- graph 4a (4), but shall be vested in the grantee subject to the following restrictions on use and disposition of the property: (1) The grantee shall retain the prop- erty acquired with Federal funds' in the grant program as long as there is a need for the property to accomplish the pur- pose of the grant program whether or not the program continues to be supported by Federal funds. When there is no longer a need for the property to accomplish the purpose of the grant program, the grantee shall use the property in connection with other Federal grants it has recei ved in the following order of priority: (a) Other grants of the same Federal grantor agency needing the property. (b) Grants of other Federal agencies needing the property. (2) When the grantee no longer has need for the property in any of its Federal grant programs, the property may be used for its own official activities in accordance with the following standards: (a) Nonexpendable property with an acquisition cost of less than $500 and used four years or more. The grantee may use the property for its own official activities without reimbursement to the Federal Government or sell the property and retain the proceeds. (b) All other nonexpendable prop- erty. The grantee may retain the prop- erty for its own use provided that a fair compensation is made to the origi- nal grantor agency for the latter's share of the property. The amount of com- pensation shall be computed by apply- ing the percentage of Federal partici- pation in the grant program to the Page 2 current fair market value of the prop- erty. (3) If the grantee has no need for the property, disposition of the property shall be made as follows: (a) Nonexpendable property with an. acquisition of $1,000 or less. Except for that property which meets the cri- teria of (2)(a) above, the grantee shall sell the property and reimburse the Federal grantor agency an amount which is computed in accordance with (iii) below. (b) Nonexpendable property with an acquisition cost of over $1,000. The grantee shall' request disposition instruc- tions from the grantor agency. The Federal agency shall determine whether the property can be used to meet the agency's requirement. If no require- ment exists within that agency, the availability of the property shall be reported to the General Services Ad- ministration (GSA) by the Federal agency to determine whether a require- ment for the property exists in other Federal agencies. The Federal grantor agency shall issue instructions to the grantee within 120 days and the follow- ing procedures shall govern: (i) If the grantee is instructed to ship the property elsewhere, the grantee shall be reimbursed by the benefiting Federal agency with an amount which is computed by apply- ing the percentage of the grantee's participation in the grant program to the current fair market value of the property, plus any shipping or in- terim storage costs incurred. (ii) If the grantee is instructed to otherwise dispose of the property, he shall be reimbursed by the Federal grantor agency for such coats in- curred in its disposition. (iii) If disposition instructions are not issued within 120 days after re- porting, the grantee shall sell the property and reimburse the Federal • •