Okaloosa County BOCC — December 6, 2016 — Real Property Accountability Manual

REAL PROPERTY ACQUIRED WITH FEDERAL FUNDS MANUAL  OKALOOSA COUNTY REAL PROPERTY ACQUIRED WITH FEDERAL FUNDS MANUAL TABLE OF CONTENTS PAGE SECTION 1 POLICY STATEMENT Definitions 1 Severability 2 SECTION 2 PROPERTY RECORDS, ACQUISITION COST & USE Establishing Real Property Inventory Records 3 Real Property Acquisition Cost 3 Title Holder & Use Restriction when Purchased with Federal Funds 3 Insurance Coverage 4 SECTION 3 REPORTING AND DISPOSITION Reporting on Real Property - Federal Government Retains Interest 5 Disposition When Title is Held by the County 5 Annual Reporting & Disposition of Federally Owned/ Exempt Property 6 SECTION 4 RECORD RETENTION AND ACCESS Record Retention and Access 7 1  SECTION 1 1. POLICY STATEMENT The Board of County Commissioners of Okaloosa County, Florida, recognizing the constitutional and statutory duties of faithfully representing the citizens, and being desirous of adopting property control and accountability policies consistent with the laws of the United States of America for the acquisition, disposition, control and accountability of such property acquired with Federal funds, do hereby adopt the policies and procedures put forth in this manual. These policies and procedures will remain in force until changed or amended by the Board of County Commissioners. The requirements and procedures of Title 2 Code of Federal Regulations 200 as amended from time-to-time is hereby incorporated by reference as it pertains to the acquisition of real property. 2. DEFINITIONS The words as used in this manual have the following meaning unless a different meaning is required in the context: A. “2 C.F.R.” means Title 2, Grants and Agreements - Code of Federal Regulations. B. “Board” means The Board of County Commissioners of Okaloosa. C. “County” means Okaloosa County, a political subdivision of the state of Florida. D. “County Uniform Building Number” means the unique number assigned by the County to identify the respective property. E. “FAIN” means Federal Award Identification Number. A FAIN is comprised of numbers and letters. For example, P375A081922. F. “Federal Awarding Agency” means the Federal agency provides a Federal award directly to a non-Federal entity, such as the County. G. “Grant Expense Department Number” means the 5+digit account code that begins with a 7xxxx. H. “Non-Federal Entity” means a state, local government, Indian tribe, institution of higher education (IHE), or non-profit organization that carries out a Federal award as a recipient or subrecipient. I. “Pass-Through Entity” means a non-Federal entity that provides a subaward to a subrecipient to carry out part of a Federal program. J. “Percentage of Federal Participation” means the percentage of the Federal portion of the Total award budget of the grant or cooperative agreement that is paid with Federal assistance.