Surplus Property

Procurement


10.06 Surplus Property                                                                                                                     Updated: March 22, 2002




1.     Definitions

        1.1    Surplus Property – equipment or vehicles determined to be no longer useful to a department,
                 but which has a remaining useful life.
        
        1.2    
Salvage – Equipment determined to be no longer useful to the department that owns it and
                 has no remaining useful life.


2.     Procedures

        
2.1     All equipment no longer needed by a department should be transferred to Surplus Property.
                 To transfer equipment to Surplus Property, the department must contact the Stores & Property
                 Supervisor or the Manager of Procurement to make arrangements for transferring the equipment.

        
2.2     For inventoriable equipment, the department must complete a Property Transfer form and
                  process it through the University Property Manager. [See Administrative Procedure 40.01]

       
2.3     Prior to transferring the equipment to surplus, the Stores & Property Supervisor or the Manager
                 of Procurement will inspect the equipment and identify any salvage to be discarded. Before
                 disposing of salvage property, the department must complete a Property Destruction Record
                 Form and obtain the required approvals. [See Administrative Procedure 40.01]

        
2.4    The Stores & Property Supervisor or the Manager of Procurement will schedule the delivery of
                 all approved surplus equipment to the Surplus Property storage area located in the Central
                 Receiving Building.

        
2.5    The Stores & Property Supervisor will notify departments of Surplus Property on hand and gives
                 them an opportunity to claim anything useful to them, before the equipment is sold at a public
                 auction or by sealed bid.

        
2.6    The Manager of Procurement will schedule all public auctions and sealed bid auctions and will
                 advertise, as appropriate.

        
2.7    All income from the sale of surplus property is retained in the Surplus Property account to
                defray the associated costs, unless otherwise restricted by the grant that purchased the
                equipment.

3.     Forms

        
Property Transfer forms may be purchased from Central Stores.

Contact: Stores & Property Supervisor




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