45 CFR 74.34(f)(3) Inventory

This section focuses on physical inventory of equipment and reconciliation of equipment records. Grantee and delegate agencies should read this section to maintain compliance with applicable regulations.

[Code of Federal Regulations] [Title 45, Volume 1]
[Revised as of October 1, 2005]
[CITE: 45CFR74.34] [Page 224-225]
TITLE 45--PUBLIC WELFARE SUBTITLE A--DEPARTMENT OF HEALTH AND HUMAN SERVICES PART 74_UNIFORM ADMINISTRATIVE REQUIREMENTS FOR AWARDS AND SUBAWARDS TO INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS, OTHER NONPROFIT ORGANIZATIONS, AND COMMERCIAL ORGANIZATIONS--Table of Contents
Subpart C_Post-Award Requirements

Sec. 74. 34 (f)(3) Inventory.

(3) The recipient shall take a physical inventory of equipment and the results reconciled with the equipment records at least once every two years. Any differences between quantities determined by the physical inspection and those shown in the accounting records shall be investigated to determine the causes of the difference. The recipient shall, in connection with the inventory, verify the existence, current utilization, and continued need for the equipment.

45 CFR 74.34(f)(3) Inventory. Uniform Administrative Requirements for Awards and Subawards to Institutions of Higher Education, Hospitals, Other Nonprofit Organizations, and Commercial Organizations. 2005. English.

Last Reviewed: November 2008

Last Updated: August 4, 2015