How do we calculate the fair market value of furniture and equipment?
The fair market value of furniture and equipment should be calculated in accordance with the depreciation tables and schedules that are part of the Generally Accepted Accounting Principles (GAAP). Your business manager or accountant should be able to assist you in establishing the fair market value of furniture and equipment that have been purchased with Even Start funds. 10. What is the process to notify staff and families that the program will no longer continue? Partnerships should notify staff and families as soon as possible. Partnerships should state the reason that the program is closing and identify the services that it will continue to offer to enable families to achieve their goals. Staff should be informed of their future or anticipated employment status. This will enable staff to adequately plan for future employment, if necessary. 11. Should programs report on the goals and objectives for the 2006 – 2007 program year? Programs that will be ending on August 31st are not req
