BS5304 - Sale of Surplus Equipment

1. Institutional Regulations
   
   The sale of surplus equipment is the sole the responsibility of the Director of Purchasing or his or her designee. No other individual shall arrange such a sale.
    
2. Procedure
   1. Surplus equipment, which no longer has value to the college, will be sold in the manner deemed appropriate by the Purchasing Department
   2. Surplus Designation
      1. Equipment with an estimated market value less than $1,000 may be declared surplus by the appropriate dean or manager.
      2. Equipment having an estimated market value equal to or in excess of $1,000 per unit must receive approval from the applicable Vice President.
   3. Any funds received from the sale of surplus will be credited as revenue in the General Fund. Funds may be placed back into the donating department’s account with the approval of the appropriate Vice President.
   4. Purchasing shall notify Inventory Control of these items to be deleted from inventory.