of items purchased with Federal Funds
- LEAs must maintain documentation to substantiate that all equipment purchases are reasonable, necessary, and allowable in accordance with federal, state and program requirements.
(2 CFR Section 200.313 and 200.403-409; California Education Code (Ed Code) Section 35168; and CARES Act)
- The LEA must conduct a physical inventory of the property and the results must be reconciled with the property records at least once every two years.
(2 CFR Section 200.313[d]; CSAM Procedure 410)
- During an FPM review: once the complete General Ledger has been provided, the reviewer will select a sample of invoices for review. Invoices should be itemized to identify exactly what was purchased and how the expenditure benefited the program.
4300 Supplies -$499 or less per unit- consumable materials, food items, periodicals, etc.
4400 Equipment -$500-$14,999- computers, scanners, etc.
(Any item $5,000 or more requires pre approval from CDE)
6400 Equipment-Capital Expenditures - $15,000 or more