SURPLUS
PROPERTY MANAGEMENT - Disposal Policy
Surplus
Property Disposal
Policy
(Ref.
Volume II, Ithaca College Policy Manual, Section 2.27 “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 sizable 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.
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.
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 with the exception of “trade-in” involving
college fleet vehicles.
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 un-salable surplus will be at the lowest possible cost to the
institution. Methods employed to dispose of un-salable surplus are (from
lower to higher associated costs):
