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(ii) Manufacturer's serial number, model number, Federal stock number, national stock number, or other identification number. (iii) Source of the equipment, including the award number. (iv) Whether title vests in the Recipient or the State of Florida . (v) Acquisition date (or date received , if the equipment was furnished by the State of Florida ) and cost. (vi ) Information from which one can calculate the percentage of State participation in the cost of the equipment (not applicable to equipment furnished by the State of Florida) . (vii ) Location and condition of the equipment and the date the information was reported . (viii ) Unit acquisition cost. (ix) Ultimate disposition data, including date of disposal and s(ix) Ultimate disposition data, including date of disposal and sales price or the method used to determine current fair market value where a Recipient compensates the Department for its share . (2) Equipment owned by the State of Florida shall be identified to indicate State ownership. (3) A physical inventory of equipment shall be taken and the results reconciled with the equipment records at least once every two years. Any differences between quantities determined by the physical inspection and those shown in the accounting records shall be investigated to determine the causes of the difference . The Recipient shall , in connection with the inventory, verify the existence, current utilization , and continued need for the equipment. (4) A control system shall be in effect to insure adequate safeguards to prevent loss , damage , or theft of the equipment. Any loss , damage, or theft of equipment shall be investigated and fully documented ; if the equipment was owned by the State of Florida, the Recipient shall promptly notify the Department. (5) Adequate maintenance procedures shall be implemented to keep the equipment in good condition . (6) Where the Recipient is authorized or required to sell the equipment, proper sales procedures shall be established which provide for competition to the extent practicable and result in the highest possible return . (g) When the Recipient no longer needs the equipment, the equipment may be used for other activities in accordance with the following standards . For equipment with a current per unit fair market value of $5000 or more , the Recipient may retain the equipment for other uses provided that compensation is made to the Department. The amount of compensation shall be computed by applying the percentage of State participation in the cost of the original project or program to the current fair market value of the equipment . If the Recipient has no need for the equipment, the Recipient shall request disposition instructions from the Department. The Department shall determine whether the equipment can be used to meet the Department's requirements. If no requirement exists within that agency, the availability of the equipment shall be reported to the Department of Management Services by the Department to determine whether a 15