Fixed Assets

Surplus Property and Equipment Policy

The Office of Financial Operations, Fixed Assets section, must approve and process the disposal and/or resale of all university property, including furniture, fixtures, and technology equipment. Disposal and/or resale will be carried out according to the procedures as outlined in the current Property Control Manual.

Administrative Area(s): Administration/Academic/Technology
Applicability: University-Wide
Scope: Repurposing and Disposal of University Surplus Property
Rationale: To avoid stockpiling of surplus equipment and to maximize budgetary funds
Publication Requirements: Property Control Manual, Purchasing Procedures Manual, NSU website
Revised: September, 2000

Request Procedures

Academic or administrative centers can request surplus items by emailing or faxing a Request for Surplus Property form to OIT-TSS for computing equipment and to OFM for furniture or equipment.

Removal Procedures

When academic or administrative centers have surplus computer equipment, furniture or other equipment that needs to be removed, the following steps should be taken.

Computer Equipment

Complete the Disposal of Surplus Property form and return it to Fixed Assets (ROF) by interoffice mail or fax to (954) 262-3921. Fixed Asset will forward the form to OIT-TSS. They will review the form and coordinate the pickup of the equipment with the contact person and Physical Plant. A copy of the completed form will be forwarded to Financial Operations' Fixed Assets section.

Surplus Furniture and Other Equipment

Complete the Disposal of Surplus Property form to request pickup of surplus furniture/equipment. Facilities Management (OFM) will review the form and coordinate the pickup of the equipment with the contact person and Physical Plant. A copy of the completed form will be forwarded to Financial Operations' Fixed Assets section.

For all assets with a dollar value of $1,000 or greater, Financial Operations/Fixed Assets will update its database to reflect the transfer of equipment to surplus, to a new location or the disposal of property.

Surplus property will be examined by OIT-TSS or OFM to determine working condition.

  • ** If the item(s) are in good working condition, they will be placed in storage and redistributed.
  • If the item(s) are in need of repair or are incomplete, every effort will be made to repair and redistribute.
  • If the item(s) are beyond repair, useful parts will be removed and the remaining items marked for disposal.

** When furniture or equipment can be used by the department in the near future due to renovation, expansion, etc., the item may be stored for the exclusive use of that department. Decisions will be made by OFM.

Equipment Disposal

Property no longer suitable or useful to the University may be disposed of by donation to organizations and/or sold to outside vendors or employees. Prior to any disposition, Financial Operations' Fixed Assets section must be notified. When possible, competitive bids should be taken and the sale shall be made to the highest bidder. Upon receipt of a completed bill of sale and payment, Financial Operations/Fixed Assets will then remove the asset from its records.

All items in poor working order or damaged beyond repair will be disposed of by recycling companies or waste management. Financial Operations/Fixed Assets will be notified to remove these assets from their records.

Employee Purchase

Employees interested in purchasing surplus property, should submit a written request to OIT-TSS for computer equipment and OFM for furniture or equipment. The request will be forwarded to Financial Operations/Fixed Assets for final approval. Upon receipt of a completed bill of sale and payment, Financial Operations/Fixed Assets will remove the asset from its records.

Donations

The University may choose to donate surplus items to qualified organizations, as defined under section 170 (c) of the Internal Revenue Code, such as, religious, charitable, educational, scientific, literary, etc. organizations. Requests for equipment from outside organizations must be submitted in writing and should include information pertaining to the organization, including their federal identification number, if applicable. Following Financial Operations/Fixed Assets approval, OIT-TSS or OFM will coordinate pickup or delivery of the items and completion of final paperwork. Financial Operations/Fixed Assets will remove the assets from their records upon receipt of this documentation.

Proceeds From Sale of Surplus Property

Monies from the sale of surplus property, including sales to individuals, recycling or waste management companies, will be deposited in a special administrative account. Monies from the sales of properties should be forwarded to the manager of fixed assets. Sales of Health Professions Division property will be recorded and deposited separately. Monies from the sales of properties should be forwarded to the manager of fixed assets.

Surplus Property Contacts

Any questions or concerns regarding Surplus Property Procedures should be directed to:

Computing Equipment
Andrew Dunne
Director of Technical Support Services
Telephone: 954-262-4939
Email: dunne@nova.edu

Furniture/Equipment
Maria Lemme
Assistant Director of Administration
OFM
Telephone: (954) 262-8940
Fax: (954) 262-3900
Email: lemme@nsu.nova.edu