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EAP Policy Manual FFY24 Chapter 13 Program Fiscal Management Page 15 • TVs and video equipment • Fax machines • Network servers. Title and Use Title to sensitive equipment acquired using EAP funds will vest upon acquisition in the Service Provider, and shall be used by the Service Provider for EAP-related activities as long as needed. When acquiring replacement sensitive equipment, the Service Provider may use the sensitive equipment to be replaced as a trade-in or sell the property and use the proceeds to offset the cost of the replacement property, subject to State approval. Property Management Requirements Procedures for managing equipment with a per unit cost $5,000 or greater and all sensitive equipment, whether acquired in whole or in part with EAP funds, until disposition takes place will, as a minimum, meet the following requirements: • Property records must be maintained that include the following information: • Description of the property. • Serial number or other identification number. • The funding source of the property, including the award ID. • Title holder. • Purchase date. • Purchase price. • Percentage of EAP participation in the cost of the property. • Location. • Use and condition. • Any ultimate disposition data including the date of disposal and sale price of the property. • A physical inventory of the property must be taken and the results reconciled with the property records at least once every year. • A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft shall be investigated. This control system must include a specific plan for handling sensitive equipment, based on the requirements in this chapter.