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USU Surplus

30Jul2014

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30Jul2014

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A Funny Thing Happened On The Way To The Forum - OLRC Stage Production

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SURPLUS PROPERTY SALES POLICIES

Purpose:

Surplus Property Sales is to be used by all University departments for the disposal of unused property. State guidelines require that State-owned personal property shall not be destroyed, sold, transferred, traded-in, traded, discarded, donated or otherwise disposed of without first receiving authorization. Surplus Property Sales assures that state guidelines are followed and property is disposed of properly.

Definition of Surplus Property:

Any personal property owned by Utah State University that a Department determines they are no longer using or technology has rendered obsolete is considered surplus property. Surplus property includes any item regardless of whether or not it has a University inventory number as long as the item(s) are useable or can be made useable with a reasonable amount of effort or expense and/or has a residual value or should be properly recycled.

Options for Proper Handling of Surplus Property:

There are two options for handling surplus property: (1) If the item is being upgraded and can be traded in towards a new item (ie vehicles, copiers, etc.), Purchasing Services will carry out an official bid process listing the item as a trade in and allowing competitive bids to be received. (2) Items are handled through Surplus Sales by listing the items and making them available to other departments and government agencies, or if still not sold, the general public. Items at Surplus Sales may be determined to have no substantial resale value and will be processed through recycling or waste management.

Submitting items to Surplus Sales:

A Department submitting surplus items must fill out and submit an official "Disposal Record" to Surplus Sales. Pre-numbered, blank forms may be obtained from Surplus Sales or a PDF copy can be obtained from the USU Surplus website (www.usu.edu/surplus). The form can be mailed or faxed (797-0994) to Surplus. Upon receipt of the disposal record, Surplus Sales will contact the department to arrange for pick up of the items.

Valuation of Surplus items:

All vehicles will be valued using the NADA Official Used Car Guide. An average of the clean trade-in and clean retail is used for setting the minimum bid. All other items will be inspected and evaluated when they are received by Surplus Sales. If the item is one that is frequently handled by Surplus Sales, such as a personal computer, pricing will be done using past sales and current market conditions. Other items that are unique require more effort and communication to determine adequate pricing. Departments should estimate the residual value on the disposal record using the best knowledge available to them at the time. If the department is aware of potential bidders for a unique item, they are encouraged to submit the names to Surplus Sales

Surplus Sales reserves the right to assign a final asking price for all items. If items are determined to have no substantial resale value or potential, Surplus Sales may elect to scrap the items and process them as any other recycled material or waste.

Surplus Sales reserves the right to reduce the price of an item if it does not sell after a government and public sale. Items will be processed through recycling or waste management if not sold after one year.

Repairs/Improvements Made to Items for Sale:

In most cases items submitted to Surplus Sales will be sold "as is". However, in some cases, particularly with vehicles, minor repairs on an item will enhance the selling potential of the item. Any repairs to a vehicle under $1,000 can be authorized by Surplus personnel if they determine the repair should be performed to optimize the resale value of the vehicle. For vehicle repairs over $1,000, Departments will be notified and it will require their authorization before repairs will be done.

HOW ITEMS ARE SOLD

DEPARTMENTS... purchase any time by using the OCC number on their P-card

AGENCIES... purchase any time with a purchase order number or a check from the agency

PUBLIC... purchase when the availability date has been met on the item with cash or check

Reimbursement to Campus Departments:

Campus Departments will be reimbursed for surplus items during the month end process after the item has sold. The amount reimbursed is generally based on the reimbursement schedule attached to this document, which may be updated over time. The reimbursement schedule is based on a declining scale of the final sales price of an item; the higher the sale amount, the less percent that is kept by Surplus Sales.

In the event Surplus Sales may incur additional expenses to make an item ready to sell, the amount reimbursed to the department will be reduced by the amount of the additional expenses. (See Repairs/Improvements Made to Items for Sale)