DISPOSITION OF SURPLUS ITEMS
Approved by: Presidents Council
Date of approval: March 24, 2014
All items which are no longer of use to the University are to be disposed of according to this policy. Items with asset tags require a "Relief of Accountability"(ROA) to account for the sale, disposal or donation. When an item is sold, the net proceeds will be returned to the authorized fund of the department submitting the item. Items that are not sold after 30 days will be reduced in price by 25 percent. Price will be reduced by another 25 percent after 60 days and another 25 percent after 90 days. After 120 days, items will be donated or discarded at the discretion of Surplus Operations personnel.
Clarification of Markdown Schedule (November 2018)
Doug Mason email@example.com
Items that are submitted to Surplus Sales through the ROA process with a value of $500 or less will follow the normal progressive markdown schedule. This markdown schedule reduces the original price by 25% every 30 days.
Items that are submitted to Surplus Sales through the ROA process with a value of $500 or more will follow the normal progressive markdown schedule to 50% Off of the original price. The markdown schedule reduces the original price by 25% every 30 days. The supervisor of Surplus Sales will accept bid offers for less than 50% of the original price if the bids are reasonable and the item has had sufficient time to sell at the 50% off price.
Policy owner: University Services-Stores, Mail, and Surplus Operations
Last Update: 3/7/2014
Surplus Items - Items that no longer have value to BYU-Idaho.
Disposal Surplus – These are items that are broken or have completed their useful life and are of no value to surplus.
· These items require a user to submit a "Relief of Accountability" (ROA) web form, found at https://web.byui.edu/Surplus/
· After completion, the ROA will be sent to the budget steward for approval. If approved, the ROA is sent to the Surplus Office.
· A surplus sticker will be delivered to the steward for placement on surplus items.
· When possible, items will be removed when surplus stickers are given out.
The ROA initiator will be consulted for any price reduction of bid items.
Requests may come from various entities for donations of surplus items. The following guidelines address these requests:
1. The first option for surplus items is to provide value for the University or other Church entities. Items can be donated to other entities if they are not sold after 30 days or there are compelling reasons for the University to make a donation before the 30 days is up.
2. The University does not make donations to For-Profit entities.
3. Donation requests from Public Schools or Government entities
4. Donation approval will be provided through the Donation Advisory Committee comprised of representatives from Financial Services, Internal Audit, Public Relations, Information Technology
All surplus items are assessed a 15 percent fee to cover the costs of managing surplus. The surplus fee will not exceed $450. (All items sold for more than $3,000 will be capped at $450.)