Library: Policy

340:105-10-116. Property management standards for area agencies on aging and Title III projects

Revised 9-14-24

(a) Policy.  Area agencies on aging (AAAs) and Title III projects follow federal policy governing title, use, and disposition for real and tangible personal property whose acquisition cost was borne in whole or in part as a direct charge to Title III funds.

(b) Authority.  The authority for this Section is Subpart D of Part 75 of Title 45 of the Code of Federal Regulations (C.F.R.) § 320 and Federal Register Office of Management and Budget (OMB) Circular A-110.

(c) Procedures.  AAAs and Title III projects:

(1) follow all rules outlined in 45 C.F.R. 75, Subpart D;

(2) follow all rules outlined in OMB Circular A-110; and

(3) use Form 02AG013E, Equipment Inventory, to maintain a physical inventory of equipment purchased with Title III funds at a minimum cost of  $1,000.

(A) The AAA may use Form 02AG013E or a computer-generated version.  The computer‑generated form includes all information on Form 02AG013E that is pertinent to the AAA's reporting requirements. 

(B) All computer-generated forms are submitted to the State Agency for approval prior to use.

(d) Cross references.  See Oklahoma Administrative Code 340:105-10-114 and 340:105‑10-115.