241.0 VIII-1.20 - POLICY ON DISPOSAL OF SURPLUS PERSONAL PROPERTY
(Approved by the Board of Regents, June 21, 1990)
1. The Chief Executive Officer or designee of each constituent
institution or component may declare an item of personal
property in the possession of the institution to be surplus
2. An item may be declared surplus property when it is no
longer necessary for the efficient operation of the
institution or has been replaced.
3. Surplus property shall be disposed of:
a. by trading it;
b. by auctioning it;
c. by selling it in a manner that fosters competition to
the extent practical, considering the value of the item
and the availability of prospective purchasers;
d. with proper documentation, by transferring it,
including by donation, to another institution or major
component within the University System, a nonprofit
organization, the State, or a local government.
e. by dismantling it for recovery of parts; or
f. if no value can be realized, by destroying it.
4. Disposal of personal property originally procured with
grant funds shall be in accordance with the terms of the
5. Each Chief Executive Officer may delegate the authority to
dispose of surplus personal property.
6. Each Chief Executive Officer shall establish procedures to
implement this Policy at the institution. Institutional
procedures which permit employees to purchase surplus
property must be consistent with applicable State Ethics
Law and Commission Advisory Opinions.
Replacement for: BOR VI - 22.00