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Surplus Property Policy

General Policy:

The purpose of policy is to insure the protection of the College assets and to provide a guideline for the College Community when considering surplus/disposal of College property. All property and equipment (known as fixed assets) purchased with College funds (including unrestricted College funds, grants, endowments or gifts), donated to the College, or acquired for College use through other means are the property of Vassar College, and title remains with the College at all times until asset disposal. The following describes the procedures individuals must follow to dispose of any College property.

Disposal Policy

Surplus property is property that is either no longer in use or for which there is no further plan for use. It includes all tangible assets such as equipment, materials, supplies and furniture.

College property may not be sold, traded-in, salvaged, scrapped, donated or otherwise disposed of without prior approval from the appropriate department head and the Director of Purchasing, acting on behalf of the Vice President for Finance and Administration. Special standing arrangements exist for hazardous substances and computers, as outlined below.

Operating Procedures

Effective asset management encourages recycling within the College community. Recycling limits liability and costs associated with disposal and provides continued use of the property to other departments within the College. When a department seeks to declare property as surplus, the department head should contact the Director of Purchasing for advice and determination of proper disposal procedures.

Disposal of the College property will be at the lowest possible cost to the College. The following methods may be considered for the disposal of surplus property:

Disposal by internal departmental transfer

Priority is given to College departments in an attempt to repurpose surplus items. The only cost to a department for an internal transfer of goods is the costs of moving and installing the item(s).

Disposal by trade or exchange of property

If the item is deemed to have fair market value, it can be traded or exchanged with College suppliers in accordance with the College purchasing policy.

Disposal by sale

If the item is deemed to have some value, it will be sold on a first come, first serve basis at a set price or open for best offer. Items will be sold “as is” for pickup. Personal purchase requests from members of the College community will have priority over those from outside parties. All funds collected from the sale of surplus items will be deposited into the general college surplus property account.

Disposal by donation

Items that can not be reused internally or sold may be donated to approved not-for-profit institutions upon written approval from the appropriate department head and the Director of Purchasing.

Donation requests from various sources will be considered. The following guidelines address these requests.

  • Items may be donated if they are not sold after two (2) surplus sales or the donation may result in intangible (i.e. good will) benefits to the College. Donations to for-profit entities are not permitted.
  • A proposal to donate equipment or supplies no longer needed by the College must be reviewed by the Vice President for Finance and Administration and the Vice President for College Relations.

Once a donation request is approved, the recipient will receive an acknowledgement letter from an authorized College Representative.

Disposal as Waste

Items that cannot be sold or donated will be discarded through the College’s normal waste removal process. Once the disposal request is approved by the Director of Purchasing, a service order request to B&G will need to be submitted by the department involved. Under no circumstances should items be discarded without the approval of the Director of Purchasing.

Disposal of hazardous substances

Surplus/disposal of hazardous substances (chemical, biological, etc.) should be done only with the prior approval of the Director of Environment & Safety in Buildings and Grounds, ext. 5685.

Computers

All college computers and computer related items require CIS approval prior to being declared as surplus. CIS will work with Purchasing to determine the best disposal method on an item-by-item basis. Please contact the Vice President for Computing and Information Services (ext. 7605) for approval.