Policy
Surplus
property items become the property of the Fixed Assets
Department in Financial Services and are to be disposed
of in accordance with procedures established by the
North Carolina Department of Administration.
Each
administrative unit shall declare all items of surplus
property on a UNC Charlotte Equipment Disposal Transfer
Form. This form must be forwarded to the Fixed Assets
Office for processing. University departments may
also identify equipment needs to the Fixed Assets
Officer who will attempt to match departmental needs
with declared surplus items to the extent reasonable
and practical. Any surplus item not relocated to
another place on campus will be submitted to the Division
of Surplus Property, State Surplus Property Agency
for public bid advertising or will be directed for
sale at UNC Charlotte’s Surplus Property Store.
Surplus
Property Store
Operation:
The Surplus Property Store shall operate between the
hours of 9:00 am and 1:00 pm on designated days and
at a location to be published. Items to be sold on
designated days will be available for inspection from
2:00 p.m. to 4:00 p.m. on the preceding day.
Procedures
and Regulation
Disposition of Proceeds from Surplus Store Funds
Proceeds from all sales are subject to a 5% fee to be paid
to the State Surplus Property Agency and an additional
20% fee to be deposited to the University account
for support of surplus property operations. The balance
of proceeds from Surplus Store sales will be deposited
to the General Fund. The balance of proceeds from
negotiated and public bid sales shall be handled as
follows:
1.
Auxiliary
Funds Since auxiliary funds are self-supporting,
proceeds received from the sale of surplus items originally
purchased by auxiliaries will be deposited to the
appropriate auxiliary fund.
If an item is requested by a department on campus, the proceeds
received by the auxiliary fund will be agreed upon
by the two departments.
If an item is purchased by public bid sheets prepared by the
Division of Surplus Property, the proceeds will be
deposited to the auxiliary fund.
2.
General Funds Proceeds
received from the sale of surplus items purchased
with appropriated funds will be deposited to the UNC Charlotte
general fund.
If
an item is requested by a department on campus, the
item will be transferred to the requesting department's
inventory list. The department receiving the item(s)
will not be required to pay for them and the department
that is giving up the items will receive no compensation.
If
an item is purchased from public bid sheets prepared
by the Division of Surplus Property, the proceeds
received for the surplus item will be deposited to
the UNC Charlotte general fund.
3.
Trust Funds Since trust funds are subject to restrictions placed
by the grantor, any disposition of property purchased
with trust funds will be handled on a case-by-case
basis. “Trust funds” at UNC Charlotte include
the following fund categories: discretionary
funds, auxiliary and student fee funds, Millennial
Campus trust funds, overhead receipts, restricted
trust funds, specifically designated trust funds,
and undesignated unrestricted trust funds.
The Fixed Assets Officer will submit a form to Sponsored
Programs requesting approval to dispose of the item(s)
in question. Sponsored Programs will clarify the
disposal process for any item purchased with grant
funds.
Disposition
of Property
On
the rare occasion that an item is not able to be relocated
on campus, sold through the retail operation, sold
through the State Surplus Property Agency, or given
to the Recycling Office for recycling, Surplus Property
will destroy and dispose of it. Such an item might
be a chair that may be missing a leg or a major component
that may render it unmarketable. In these circumstances,
the following procedures apply:
