D-650.1 Equipment and Property Disposal

Under Policy D-650 – Equipment and Property Disposal, college-owned equipment or property cannot be sold, internally transferred, or disposed of without proper written approval.

The College is prohibited from donating college property to any individual or entity, including governmental units, educational institutions, and charitable organizations.

FIXED ASSET DISPOSAL/TRANSFER FORM

The D-650F – Fixed Asset Disposal/Transfer Form shall be used when requesting approval to dispose of college equipment or property. The form must be routed through the organizational structure for approval. Once approved, a copy of the D-650F – Fixed Asset Disposal/Transfer Form will be forwarded to and maintained in the Business Office as the official record of the transaction.

The originator of the D-650F – Fixed Asset Disposal/Transfer Form will determine an item's current value and write this amount on the form. The current value will serve as a guide as to the item's fair market value. This value can be determined by the item's current trade-in value or the standard price on a public auction site (e.g., eBay).

The Accounting Clerk will update the College’s asset inventory records based on the information contained on the form.

EXTERNAL DISPOSAL VIA TRADE-IN

Trading in College-used equipment is encouraged if it will reduce the purchase cost of replacement equipment. To minimize processing time, a copy of the D-650F – Fixed Asset Disposal/Transfer Form should be attached to the purchase requisition, identifying the item to be traded in on purchasing new equipment.

INTERNAL TRANSFERS

Before disposing of equipment externally, the College will transfer usable equipment to another unit. The following procedures will be used to transfer equipment to another unit:

• Periodically, the Auction Coordinator will notify the College Community of all equipment in a suitable condition that is available for transfer or disposal.

• If a unit wishes to acquire an item on the list, the respective unit Administrator shall notify the Auction Coordinator of such interest. 

• When an item is transferred to another department, the D-650F – Fixed Asset Disposal/Transfer Form identifying the new location of the equipment will be completed by the unit receiving the item. Once the transaction has been finalized, the form will be forwarded to the Business Office for asset records maintenance. 

EXTERNAL SALE/BID

• Disposal Sales:

  • Upon completion of the D-650F – Fixed Asset Disposal/Transfer Form, the Business Office shall designate a sale date for the disposal of all remaining items and distribute a notice of the sale. This notice will identify all items available for sale, the date of the sale, where the items can be previewed, and the minimum amount of each item. Each item will be assigned a sale/lot number based on a consecutive numbering sequence.

  • Approximately 30 days before the sale date, the Business Office will distribute the sale notice to public school systems, governmental units, and nonprofit community-based organizations within the College.

  • Public school systems, governmental units, and nonprofit community-based organizations shall submit a price quotation. The quotation must be received by the deadline specified in the sale notice. All quotations must be submitted in a sealed envelope identifying the “Sale Number and Date of the Sale” and shall include the name, address, telephone number, sale item number, and bid amount.

  • Certain specialized equipment or when it is in the College's best interest, as determined by the President/District Director or his designee, may be offered for sale to the public using a sealed bid process. The Business Office will distribute an official notice of the sale. Other interested parties may be notified by mail of the available items. This notice will identify all items available for purchase.

  • All sealed bids must be received by the deadline specified in the bid notice. The bids received must include the name, address, telephone number, sale number, and bid amount.

  • The successful offer will be notified of the sale, and a pickup date will be determined. The successful offer will also be informed of the amount due, including sales tax. All items must be paid in full before removing the equipment from the College.

  • The Business Office shall maintain a record of all transactions.

• Auction Service:

  • Upon completing the disposal form, the College may utilize an auction firm or electronic internet service instead of disposal sales. Companies that provide consignment sales services will be selected per the College's procurement policies. Items not accepted for sale by a consignment company will be discarded through the most appropriate means.

  • The Auction Coordinator will record all transactions and forward all money and checks received to the Business Office.