Surplus and Salvage Property Policy

The Surplus and Salvage Property Policy establishes requirements for declaring, managing, and disposing of University-owned movable property such as vehicles, furniture, fixtures, and equipment.

This policy replaces existing surplus practices with a standardized University-wide framework.

Highlights of the policy include:

• Scope and Compliance: Applies to all faculty, staff, and students managing University-owned property, with clear accountability and regulatory alignment.
• Efficient Asset Management: Provides procedures for redeployment, trade-in, sale, donation, or recycling of surplus items, ensuring cost savings and space optimization.
• Financial Stewardship: Outlines fair market value standards, recording of proceeds, and requirements for federally funded or restricted assets.
• Sustainability and Risk Management: Encourages recycling and responsible disposal, while ensuring safe handling of technology and hazardous materials.
• Transparency and Fairness: Establishes consistent processes to promote equitable treatment of buyers, donors, and internal departments.