SURPLUS PROPERTY DISPOSAL

Effective Date
July 1989
Last Revision Date
March 2026 
Policy Owner
Vice President of Administrative Services
Additional Authority
External Authority: Code of Federal Regulations (CFR) Title 2 (200.313 Equipment) 

1. Policy & Purpose

It is the policy of the College to establish an orderly procedure for the disposal of surplus property.

Last Review Date: March 2026

History
Adopted July 19, 1989
Revised February 12, 2009
Reformatted April 22, 2010
Reformatted November 2, 2018
Reviewed March 2026

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Procedure 3710F

SURPLUS PROPERTY DISPOSAL

Effective Date
July 1989
Last Revision Date
March 2026 
Policy Owner
Vice President of Administrative Services
Additional Authority
External Authority: Code of Federal Regulations (CFR) Title 2 (200.313 Equipment) 

1. Procedure

It is the policy of the College to establish an orderly procedure for the disposal of surplus property. 

Real Property 
If the Board of Trustees votes to sell the property without using a real estate brokerage firm, notice of a public auction or sealed bid shall be advertised at least twenty (20) days in advance in at least one newspaper with circulation in the county. 

A sign shall be posted on or near the property announcing the sale and its date. The property shall generally be sold to the highest bidder; the Board of Trustees, however, may establish a minimum selling price and reserve the right to reject any or all bids. The College attorney shall prepare all legal documents pertaining to the sale. 

Alternatively, the Board of Trustees reserves the right to retain the services of a real estate brokerage firm to market the property. Signage, advertising, and other provisions shall be governed by the brokerage agreement. 

Equipment, Materials, and Supplies 
Items having a fair market value of less than $2,000.00 may be disposed of at the most advantageous price, without approval by the Board of Trustees. All such items shall be advertised on campus prior to sale. 

Items having a fair market value of $2,000.00 or more shall be advertised for sale, upon approval by the Board of Trustees, in a newspaper with circulation in the county. The property shall generally be sold to the highest bidder; the College Administration, however, may establish a minimum selling price and reserve the right to reject any or all bids. The College administration shall approve all bids. 

Property and/ or Equipment Purchased with Sponsored Awards 

Property and/or equipment purchased with sponsored awards that are no longer needed for the original project or program must be disposed of in accordance with the Code of Federal Regulations (CFR) Title 2 (200.313 Equipment). To ensure compliance with these regulations, the Senior Grants Accountant must be notified prior to the disposal of the property and/or equipment so they can guide the proper disposition process. 

Last Review Date: March 2026

History
Adopted July 19, 1989
Revised February 12, 2009
Reformatted April 22, 2010
Reformatted November 2, 2018
Revised March 12, 2026