Approval Date: 2014-07-25

Effective Date: 2014-07-25

Responsible Unit: Department of Facilities Management

Procedure for Declaration and Disposal of Surplus Property

1. Unit Heads complete a Declaration and Disposal of Surplus Property Form, supplied by the Department of Facilities Management (FM), for surplus property and submit it to FM. This form is signed by the appropriate Dean, Director, or a designate.

2. FM arranges for the removal of property approved for disposal, administers the contract for auction services, and completes financial transactions related to sale by public auction.

3. FM forwards a copy of the Declaration and Disposal of Surplus Property Form to Financial & Administrative Services after it has been signed off by the Procurement Officer so that they may adjust the Fixed Asset Inventory Listing.

4. All sales completed under this procedure will be on the basis of "as is, where is" with no express warranty applied. All sales will be final and cash or a certified cheque will be required at the time of the sale.

5. In all cases where bids on surplus property are tendered, the highest or any other bid need not be accepted. For those tenders where the highest bid is not accepted, the Director of Facilities Management approves the acceptance of the bid.

6. Where equipment is of a specialized nature and disposal by public auction will not likely attract the appropriate category of buyer, Unit Heads can recommend an alternate method of disposal. Such recommendations are made in writing to the Director of Facilities Management to verify consistency with past practice and require the approval of the Vice-President (Administration & Finance). FM provides administrative guidance to complete the disposal action.

Policies using this procedure: