§ 80.97 What is barter, and may a State fish and wildlife agency use barter of goods or services to carry out a grant-funded project?

(a) Barter is a nonmonetary exchange of goods or services with another entity (reciprocal transfer). If goods or services are given or received without expectation of a reciprocal transfer, the activity is not barter and is an expense of or donation to the agency. (b) A State fish and wildlife agency may use barter to carry out a grant-funded project when following approved State policies and procedures that comply with the generally accepted accounting practices as defined by the Governmental Accounting Standards Board. The State processes, as applied by the agency, may identify types of barter (e.g., cooperative farming or grazing) for which the agency will consider the barter transaction to be an even exchange.