Sale of Surplus Equipment Policy

Section I

Purpose

The purpose is to provide a method for disposing of unsuitable equipment.

Section II

Procedure

Equipment to be sold must be declared surplus to departmental requirements by the head of the department. Chairs should contact other areas of the University to ensure that the equipment cannot be utilized on campus.

Equipment to be sold will be advertised in at least two weekend editions of one newspaper. Advertisement for equipment will include a disclaimer of warranty, and all equipment is to be sold as is by the University. The charges for this advertisement will be charged to the selling department, and this department will receive a budget credit for the sale of equipment.* Equipment may be held for University wide public auction. Credit for sales may be delayed until the next budget cycle, especially if an item is of large value.

Terms of the sale will be cash or cashier's check and delivered FOB at the requesting departments address. The department will turn in to the Business Office the old inventory tag number and a request for disposal form to remove the item from inventory when the item is picked up.

*Must be $100 or more