b. Contract approval
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b. Contract approval
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<br />Origination Date 6/15/03 <br /> <br />. Activities sponsored by the Federal awarding agency which funded the original <br />project, then; <br />. Activities sponsored by other Federal awarding agencies. <br /> <br />When acquiring replacement equipment, the recipient may use the equipment to be <br />replaced as trade-in or sell the equipment and use the proceeds to offset the costs of <br />the replacement equipment subject to the approval of the Federal awarding agency. <br /> <br />In the event a grantee or subgrantee is provided federally-owned equipment title will <br />remain vested in the federal government. Grantees will manage the equipment in <br />accordance with federal agency rules and when the equipment is no longer needed the <br />grantee will request disposition instructions from the federal agency. <br /> <br />Common rule Subpart 0 i_.50 Closeout Procedures <br />Recipients shall submit, within 90 calendar days after the date of completion of the <br />award, all financial, performance, and other reports as required by the terms and <br />conditions of the award. The Federal awarding agency may approve extensions when <br />requested by the recipient. <br /> <br />The Department's closure report is intended to be a summary of the true costs incurred <br />to provide the service or activity of the contract. The contract closure report should <br />include all expenditures incurred for completion of the contract, regardless of whether <br />grant funds were used to pay for those expenditures. In addition to the grant funds <br />received, you should report program income, cash contributed, in-kind match, and other <br />revenues used to fund your expenditures. <br /> <br />Please detach the Certification on the following page. Complete and return it with your contract. <br /> <br />10 <br />
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