Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 45 - Public Welfare |
Subtitle B - Regulations Relating to Public Welfare |
Chapter XI - National Foundation on the Arts and the Humanities |
SubChapter B - National Endowment for the Arts |
Part 1157 - [Reserved] |
Subpart C - Post-Award Requirements |
Changes, Property, and Subawards |
§ 1157.33 - Supplies.
Latest version.
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(a) Title. Title to supplies acquired under a grant or subgrant will vest, upon acquisition, in the grantee or subgrantee respectively.
(b) Disposition. If there is a residual inventory of unused supplies exceeding $5,000 in total aggregate fair market value upon termination or completion of the award, and if the supplies are not needed for any other federally sponsored programs or projects, the grantee or subgrantee shall compensate the awarding agency for its share.