2.27 Ithaca College Surplus Property Disposal Policy
Responsibility for the disposition of surplus and excess property rests
with the director of purchasing. The only means by which College property
of any kind should be transferred to other campus departments, sold, traded
in, salvaged, or scrapped is through direction from the purchasing department.
Department heads or their designees should determine when property is
not needed and notify the director of purchasing. The only property the
purchasing department will not handle is hazardous waste and real estate.
The effective management of excess and surplus property can be a source
of income for Ithaca College. It can also provide a significant reduction
in expenses. Every dollar that can be converted from idle assets to cash
or the reuse of excess property means a matching dollar from general institutional
funds is saved. Valuable space also becomes available with the removal
of surplus property from storage.
College property is defined as any item, whether or not operable or a
complete unit, which was purchased by the College or donated to the College,
or purchased with gift, grant, contract, or restricted general fund money,
and title is vested in the College. In the case of equipment or material
which was purchased with special donated funds or specific grant or contract
funds, the department is requested to assist the director of purchasing
to determine if title to these goods has passed to the College.
2.27.1 Excess Property Disposition
Wherever possible, we reassign and reuse items declared excess by other
departments. If no campus reuse is identified, purchasing has the sole
authority to dispose of surplus property. Please contact us to discuss
your needs.
Some exceptions will be made for excess Bookstore inventory and library
books which may be traded, exchanged, or returned by the respective manager
or director without the involvement of the purchasing department. If other
opportunities exist to trade in surplus items to offset the purchase cost
of replacements, these should be discussed with the director of purchasing.
Upon receipt of an excess item, the director of purchasing will first
determine if it is in the best interest of Ithaca College to allow the
item to be transferred to another department within the College. Examples
of items which should not be transferred internally may include certain
typewriters, copy machines, computers, printers, or other items which
may become excess because of predetermined replacement policies established
when analysis may have shown it is economically unwise for the College
to retain certain equipment after a given period of time, considering
replacement cost, repair cost, maintenance cost, level of usage, and efficiency.
2.27.2 Surplus Property Disposal
Although the primary objective is to facilitate reuse of excess property
through internal transfers, an equally important objective is to obtain
the maximum proceeds for the sale of surplus property through external
sales. If no internal use for an excess item can be found, the property
will be declared surplus. The director of purchasing will make final determination
of the disposition of such surplus materials. If the item is sold, all
sales will be on an "as is" and "where is" basis,
with no warranties of any kind, express or implied, attached to the item.
All sales are final with no returns or refunds allowed.
Sales will be arranged by the director of purchasing and may be on a
pre-priced basis, first-come-first-served basis, on a competitive bid
basis with an optional fixed minimum sell price, negotiated sale, consignment
sale by auctioneers or dealers, annual sales contracts, or other methods
deemed most applicable.
All proceeds from sales of any item will be deposited in a general institutional
income account. Funds will not revert to the department from which the
items were declared excess.
Advertising of the availability of items for sale will be arranged by
the director of purchasing. Items available for competitive bid will generally
be advertised to the campus public and to whatever other potential market
deemed appropriate. Advertisement outside the College of items for competitive
bid will be arranged by the director of purchasing.
Disposal of unsalable surplus will be at the lowest possible cost to
the institution. Methods employed to dispose of unsalable surplus are
(from lower to higher associated costs):
- Trade-in;
- Donation to non-profit organizations on "as-is, where is"
basis;
- Return to the original source for resale or reuse;
- Recondition or rebuild to improve resale value;
- Scrap;
- Dismantle for salvageable scrap materials;
- Destroy;
- Treat as waste and handle accordingly.
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