(a) Goods in the form of equipment, whether applicant owned, purchased, leased, or donated will be valued on a use basis in accordance with actual costs of purchase or lease or on a depreciation schedule in accordance with applicant's normal accounting practices or prevailing costs of goods if donated. Equipment rental rates adopted by the California Department of Public Works may be used as a guide. Residual market value of purchased equipment shall be credited to projects costs upon completion.

(b) Goods in the form of supplies and material will be valued at either actual direct costs to applicant or, if capitalized as part of a structure or item of equipment used on the project, that cost reasonably attributable to the projects, or if donated according to prevailing costs.

(c) Services will be valued in the actual amounts of salaries, wages and direct overhead costs, expended on the project.

(d) Volunteer services may be furnished by professional and technical personnel, consultants, and other skilled and unskilled labor. Each hour of volunteered service may be counted as matching share if the service is an integral and necessary part of an approved project. Records of in-kind contributions of personnel shall include time sheets containing the signature of the person whose time is contributed and of his supervisor verifying that the record is accurate.

(e) Rates for volunteers should be consistent with those regular rates paid for similar work in other activities of the State. The time of a person donating his services will be valued at the rate paid as a general laborer unless he is professionally skilled in the work he is performing on the project (i.e., plumber doing work on pipes, mason doing work on a brick building). When this is the case, the wage rate this individual is normally paid for performing his service may be charged to the project. A general laborer's wages may be charged in the amount of that which the city or cities in the immediate area pay their city employees for performing similar duties.