Equipment Disposal Policy
When equipment is determined to be no longer needed by a department it may be recycled to another department, stored for future use, or disposed. The procedure for this process is as follows:
- The department fills out a "Request for Storage or Equipment Release" form which needs to be signed by the Department Head. The signed form should be sent to Physical Plant who will determine whether there is another need for the equipment within the University or if the equipment can be disposed.
If there is additional information regarding the disposal (ex. donation to another entity, or sale to another entity) this request should be submitted in memo form addressed to the Vice President for Administration & Finance and attached to the "Request for Storage or Equipment Release" form.
If a sale takes place, it should typically be offered to more than one party. A coordinated effort between the department and Central Receiving & Support may be needed to determine the fair market value. The buyer should be notified in writing that the equipment is being sold as is and with no warranty. Sales tax will be charged on the sale unless the buyer can provide a tax exempt letter.
- If there is a need for the equipment within the University, Central Receiving & Support will coordinate the transfer. If the equipment is to be sold, scrapped, or donated, Central Receiving & Support will complete a disposal request form and forward it to Accounting.
- The Fixed Assets Accountant will determine the book value remaining on the equipment and submit the request and substantiating information to the Vice President for Administration & Finance for approval.
- Upon approval from the Vice President for Administration & Finance, Central Receiving & Support will coordinate the removal of equipment.
On the day of the sale, Central Receiving & Support takes a completed shipper and the payment to the Student Accounts office to obtain a receipt. All proceeds generated from the sale will be deposited in the University's General Fund (110000-56010).
Central Receiving & Support forwards a copy of the shipper and the receipt to the Fixed Assets Accountant in the Business Office. The Fixed Assets Accountant processes the disposal on BANNER and removes any red tagged items from the inventory.