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Every year, Federal Government agencies provide about $600 billion in grants to higher education, hospitals, other organizations, and commercial organizations; and certain grants and agreements with states, local governments and Indian tribal governments. Federal government agencies do require that the grant recipients maintain a certain standards in equipment management practices.
Any federal grantees who receive more than $500k in federal grant annually are subject to Code of Federal Regulations (CFR) that specifies equipment management practices, including equipment tracking, annual reporting, and inventory audit.
This White Paper outlines the key requirements on equipment management, the key challenges in grantee organization, and offer practical guide for grantees to assess whether they have the control in place to meet the requirements.