Surplus Property DispositionRevised: July 1, 2010
Also refer to Signature Authority Policy
Table of Contents
Property disposition requires the written approval of the cognizant department head. Marketable surplus property is sold through the respective campus Purchasing Department. Property belongs to the University, not individual University departments; therefore income from the sale of an item is credited to the general or endowment funds of the University. Departments may not give or sell property to individuals, including University employees, or to non-University entities.
Note: This policy does not apply to real property for which disposition is handled jointly by the Business and Finance Division and Board of Regents.
Surplus property includes, but is not limited to, surplus or obsolete movable equipment. Movable equipment includes office furniture, office equipment, scientific or clinical equipment, musical instruments, vehicles, maintenance equipment.
See the University's Signature Authority Policy for signature authorization requirements for agreements related to the Disposal of Property and Electronic Waste.
Follow the procedure below for disposing surplus property:
|1||If surplus property is...||Then...|
|Computer equipment||Contact respective campus information technology department (IT).|
|All other||Contact campus Purchasing Department.|
|2||If surplus property is...||Then...|
|Computer equipment||IT will make arrangements to erase disk drives.|
|All other||The Purchasing Department will forward a Surplus Inventory Detail form to department for completion and will schedule pick-up.|
|Note: Departments should allow five business days for pick-up after Purchasing Department receives the completed form. Surplus equipment should not be stored in hallways.|
|3||If surplus property is...||Then...|
|Computer equipment||IT will determine disposition and notify the Purchasing Department.|
|All other||The Purchasing Department will determine marketability of equipment and handle its disposition through sale, donation or scrap.|
|4||Respective campus Purchasing Department to notify Financial Reporting in writing prior to disposition of all tagged property.|
For purposes of this policy, computer equipment is defined as a data storage device (i.e., server, central processing unit, hard drive, etc.).
Contact the Purchasing Department for additional information.