Disposal of Surplus University Property

Owner	Administration and Finance
Contact	[email protected]
Document Type	Policy
Issue Date	January 2014
Last Review	June 2025
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Contents

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1. Scope
2. Policy Statement
3. Approvals
4. Responsibilities
5. Contacts

A. Scope

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The scope includes the disposals of any purchased (capitalized or expensed) or gifted equipment by any university unit. The management of acquisitions and disposals of IT equipment (e.g., computers, printers, etc.) art, wildlife and other museum collections are subject to departmental policies and not covered by this policy.

B. Policy Statement

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Surplus university property is defined as any physical asset for which the university has no operational need in the foreseeable future. These assets will be disposed of under the direction of the Associate Vice President for Finance or designee by methods that will result in a sale for the highest price from a responsible purchaser, or by trade, destruction, or donation. 

C. Approvals

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Surplus university property is identified and approved for disposal by the responsible department manager.
The disposal method and the distribution of proceeds are approved by the Associate Vice President for
Finance or designee. The following methods may be considered for the disposal of surplus university
property.
A. Disposal by sale:

1. The preferred method is by online public sale.
2. Other methods, with the specific approval of the Associate Vice President for Finance or designee, i.e., sale by advertised bid, invited bid, private bid, online auction site or auction.
   Note: The University will reserve the right to reject any and/or all bids or proposals.

B. Disposal by destruction, trade-in or by donation may be approved by the Associate Vice President
for Finance or designee where the cost of the sale is estimated to exceed the proceeds of the sale, or the recommended method is in the university’s best interest.

Disposal by disassembly for other university use (parts, consumed in instructional use, etc.) must be approved the asset custodian’s dean, director or designee. Donations are restricted to approved notfor-profit entities, public or private schools or similar agencies.

D. Responsibilities

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University property is acquired by the university for the purpose of supporting its programs and
operations. The physical care and safeguarding of such assets are the responsibility of the asset
custodians. The asset custodian will contact:
C. Accounting Office for direction regarding:

1. Disposal by sale or donation.
2. Disposal by destruction or disassembly for other university use.
3. Reporting of asset impairments (defined as a significant decline in value or use of capitalized asset).
4. Banner Fixed Asset records.
5. Use of the Banner Fixed Asset System.

D. Facilities Management for direction regarding:

1. Disposal in a public sale.
2. Disposal to a commercial waste or salvage facility.
3. Inventory of goods stored in surplus university property storage facilities.
4. Transfers of surplus university property to temporary storage prior to disposal.
5. Transfers of goods from surplus university property storage facilities to university use.

E. Contacts

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For more information, please contact the following departments:

• Associate Vice President of Finance
• Associate Vice President of Facilities