Sale
The Director of Purchasing, or designee, is authorized to dispose of University owned surplus equipment and materials to the highest bidder, subject to the following:
- Items valued at $50,000 or less in aggregate may be offered, subject only to subsequent reporting to the Board of Trustees.
- Disposal if items valued in excess of $50,000 in aggregate requires prior Board of Trustees approval.
Items may be disposed of to a governmental agency or other educational institutions at fair market value prior to offering a bid basis with the approval of the treasurer of the Board of Trustees.
The manager of Purchasing, or designee, is authorized to sell, on a first come - first served basis, surplus equipment and materials which are impractical to dispose of on a bid basis, without prior Board of Trustees approval, subject only to subsequent reporting to the Board and receipt of a price believed in good faith by the Director of Purchasing to be the reasonable market value thereof.
No other department has the authority to enter into negotiations to sell surplus equipment or furnishings.
In order to conduct an external property sale, the item must be surplus to and owned by the University, without restriction from the acquisition provider or government agency.
To request a surplus property sale:
a) Evaluate the item for potential use, either through repair or use by other units within the department.
b) If it is determined no departmental use is found, contact individual departments or research units for the possible use, transfer, or purchase.
c) If the item cannot be successfully transferred within the University, the departmental equipment coordinator will contact Financial Services and Operations at surplus@mtu.edu or 7-2252.