Sale/Trade-In/Disposal of Equipment

Departments that wish to sell equipment must submit a request (see surplus Property Form) to the Purchasing Department for approval. The request must be authorized by the appropriate Department Head/Budget Manager. A notice will be issued to determine if there is a need for the equipment elsewhere on campus. At the end of five working days, if the response is negative, the Purchasing Department and the User Department will agree on a selling price. All receipts from the sale are to be deposited in the equipment account for that department in the current fiscal year. Trade-In or disposal of equipment is to be approved by the Purchasing Department as well. The Purchasing Department will notify the Accounting Department when equipment has been sold/traded-in/disposed so that equipment records can be updated. Equipment purchased with governmental funds must be disposed of in compliance with the terms of the grant agreement.