900.59—How are the inventory requirements for Federal property different than for tribal property?
There are three additional requirements:
(a)
The Indian tribe or tribal organization shall conduct a physical inventory of the Federally-owned property and reconcile the results with the Indian tribe or tribal organization's property records annually, rather than every 2 years;
(b)
Within 90 days following the end of an annual funding agreement, the Indian tribe or tribal organization shall certify and submit to the Secretary an annual inventory of all Federally-owned real and personal property used in the contracted program; and
(c)
The inventory shall report any increase or decrease of $5,000 or more in the value of any item of real property.