50 CFR 80.98 - How must an agency report barter transactions?
§ 80.98
How must an agency report barter transactions?
(a)
A State fish and wildlife agency must follow the requirements in the following table when reporting barter transactions in the Federal financial report:
| If * * * | Then the agency * * * |
|---|---|
| (1) The goods or services exchanged have the same market value, | (i) Does not have to report bartered goods or services as program income or grant expenses in the Federal financial report; and(ii) Must disclose that barter transactions occurred and state what was bartered in the Remarks section of the report. |
| (2) The market value of the goods or services relinquished exceeds the market value of the goods and services received, | Must report the difference in market value as grant expenses in the Federal financial report. |
| (3) The market value of the goods or services received exceeds the market value of the goods and services relinquished, | Must report the difference in market value as program income in the Federal financial report. |
| (4) The barter transaction was part of a cooperative farming or grazing arrangement meeting the requirements in paragraph (b) of this section, | (i) Does not have to report bartered goods or services as program income or grant expenses in the Federal financial report; and(ii) Must disclose that barter transactions occurred and identify what was bartered in the Remarks section of the Federal financial report. |
(b)
For purposes of paragraph (a)(4) of this section, cooperative farming or grazing is an arrangement in which an agency:
Title 50 published on 2012-10-01
no entries appear in the Federal Register after this date.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.
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