Federally owned property.

§ 600.322 Federally owned property. (a) Annual inventory. The recipient must submit annually to the contracting officer an inventory listing of all Federally owned property in its custody, i.e., property furnished by the Federal Government, rather than acquired by the recipient with Federal funds under the award. (b) Insurance. The recipient may not insure Federally owned property unless required by the terms and conditions of the award. (c) Use on other activities. (1) Use of federally owned property on other activities is permissible, if authorized by the contracting officer responsible for administering the award to which the property currently is charged. (2) Use on other activities must be in the following order of priority: (i) Activities sponsored by DOE grants, cooperative agreements, or other assistance awards; (ii) Activities sponsored by other Federal agencies' grants, cooperative agreements, or other assistance awards; (iii) Activities under Federal procurement contracts or activities not sponsored by any Federal agency. If so used, use charges must be assessed to those activities. For real property or equipment, the use charges must be at rates equivalent to those for which comparable real property or equipment may be leased. (d) Disposition or property. Upon completion of the award, the recipient must submit to the contracting officer a final inventory of Federal owned property. DOE may: (1) Use the property to meet another Federal Government need ( e.g., by transferring accountability for the property to another Federal award to the same recipient, or by directing the recipient to transfer the property to a Federal agency that needs the property or to another recipient with a currently funded award). (2) Declare the property to be excess property and either: (i) Report the property to the General Services Administration through EADS, in accordance with the Federal Property and Administrative Services Act of 1949 (40 U.S.C. 483(b)(2)), as implemented by General Services Administration regulations at 41 CFR 101–47.202; or (ii) Dispose of the property by alternative methods, if there is authority under law, such as 15 U.S.C. 3710(i).