12 Colo. Code Regs. § 2510-1-10.313

Current through Register Vol. 47, No. 22, November 25, 2024

Section 12 CCR 2510-1-10.313 - FIXED ASSETS, SUPPLIES, AND CAPITAL EXPENDITURES [Rev. eff. 12/1/10]

A. Fixed assets are:

1. Real property (land, buildings, and building improvements);

2. Leasehold improvements (remodeling or redecorating of rented or leased spaces); and,

3. Tangible personal property (office furniture, kitchen equipment and vehicles) with a useful life of more than one (1) year.

B. Fixed assets may be acquired by purchase or by donations.

1. Prior approval of the contracting agency shall be obtained prior to purchase of a fixed asset with a value in excess of $5,000.00. Issuance of an option letter or funding letter shall constitute approval if the proposed purchase and its justification have been included in the fiscal section of the funding request.

2. Donations of fixed assets shall be used as in-kind match if they further the purposes of the contract. The cost shall be recorded at fair market value and all requirements for fixed assets shall apply.

C. The AAA or sub-contractor shall maintain, at a minimum, insurance coverage adequate to cover the replacement value of all fixed assets.

D. Fixed assets funded in whole or in part by grant funds may be used on a part-time basis for non-

grant purposes by:

1. Nonprofit agencies, provided that:

a. A minimum usage fee is charged in accordance with program income requirements at Section 10.401.16; and,

b. The part-time usage does not conflict with the use of the equipment for the purposes of the contract.

2. Profit-making organizations, provided that:

a. A usage fee equal to or greater than the prescribed minimum is charged;

b. Usage does not conflict with the use of the equipment for purposes of the contract; and,

c. Prior approval has been obtained from the contracting agency.

12 CCR 2510-1-10.313

39 CR 01, January 10, 2016, effective 2/1/2016