Surplus Property and Rental and Lease of Equipment: Difference between pages

From Appalachian State University Policy Manual
(Difference between pages)
imported>Deaskc
No edit summary
 
imported>Deaskc
 
Line 1: Line 1:
Policy 507.12
Policy 509.15
== Introduction ==
== Introduction ==


== Scope ==
== Scope ==


== Definitions  ==
== Definitions  ==


== Policy and Procedure Statements  ==
== Policy and Procedure Statements  ==
=== Surplus Property ===
Occasionally, departments have in their possession equipment or furnishings which are no longer of use to them, and therefore, may be termed "surplus property." Rather than permitting such surplus items to set idle and occupy needed space, they should be disposed of in one of the following ways:
#Transfer the items to another University department or office where they will be used. A department may sell to a department by budget transfer, but cannot sell directly to individuals.
#Sell the items through the North Carolina State Surplus Property Office.
Disposal of all state owned property must be coordinated through the Surplus Property Officer in the Purchasing Office. Departments should never dispose of items directly unless by written consent of the Surplus Property Officer.
=== Transfer or Disposal of Items Bearing A Fixed Asset Inventory Decal ===
Appalachian State University form, Moveable Equipment - Notice of Disposal or Change of Location, must be completed and forwarded to the Fixed Asset Office whenever a department wishes to:
#transfer property to another department.
#move property to another location.
#dispose of surplus property by sale
#if the property bears a fixed asset inventory decal.


=== Transfer or Disposal of Items Not on the Fixed Asset System ===
=== Necessary Bidding and Approval ===
4.1.1 The purchase of equipment is encouraged, in lieu of leasing or rental when feasible. Departmental requests to lease equipment are submitted to the Purchasing Office on a procurement request. The request should be accompanied by a memorandum explaining the need for leasing rather than purchasing, a copy of the leasing agreement, and any other communication available concerning the request. The Purchasing office will forward the procurement request and other material to the State Purchase and Contract Division for review.


Whenever a department wishes to dispose of, transfer, or change the location of an item not on the fixed asset system, the Moveable Equipment - Notice of Disposal or Change of Location form, or a memo should be forwarded to the Surplus Property Officer giving the following information:
=== Lease/Purchase Agreements ===
#Item name and description
4.2.1 Lease agreements are for a definite period of time, usually one to three years, and cannot be canceled during the life of the lease. However, a lease may be entered into with the option to purchase the equipment during the life of the leased or at the end of the lease period. If it is determined that the leased equipment will be needed on a continuing basis, it is usually more economical to exercise the option to purchase, provided funds are available to make the purchase.
#Serial Number
#Condition (good, fair, poor, operable, inoperable, etc.).


University employees are not permitted to bid on surplus items from their department or work area. They are permitted to bid on property from other areas of the University. Anyone failing to adhere to this policy may be subject to dismissal.
=== Rental Agreements ===
4.3.1 Rental requests should be submitted to the Purchasing Department on a procurement request with an explanation justifying the need for the rental, a copy of the rental agreement, and any other communication concerning the request. The Purchasing Office will forward this material to the State Purchase and Contract Division for review and action.


Internal Auditors will audit surplus property records in the North Carolina Surplus Property Office and in the University Fixed Asset System Office to insure that this policy is being followed. (All of these records are subject to the public records law.)
=== Reasons for Renting ===
4.4.1 It may be desirable to rent equipment for a short duration for a specific requirement. Rental agreements are similar to lease agreements, except that rental agreements are normally for an indefinite period and can be terminated by the rentee after giving notice, usually thirty days in advance. The initial cost of some equipment, such as computers, is so great that when this type of equipment is required, it may be more economical to rent on a continuing but indefinite basis. Also, new, updated versions of this type of equipment are constantly placed on the market, making it unwise to invest large sums in equipment which may soon be obsolete.


== Additional References ==
== Additional References ==
Line 45: Line 31:


== Revision Dates ==
== Revision Dates ==
Last modified 04/08/2011 08:55:49 AM by Matt McNaney

Revision as of 16:19, 6 January 2012

Policy 509.15

Introduction

Scope

Definitions

Policy and Procedure Statements

Necessary Bidding and Approval

4.1.1 The purchase of equipment is encouraged, in lieu of leasing or rental when feasible. Departmental requests to lease equipment are submitted to the Purchasing Office on a procurement request. The request should be accompanied by a memorandum explaining the need for leasing rather than purchasing, a copy of the leasing agreement, and any other communication available concerning the request. The Purchasing office will forward the procurement request and other material to the State Purchase and Contract Division for review.

Lease/Purchase Agreements

4.2.1 Lease agreements are for a definite period of time, usually one to three years, and cannot be canceled during the life of the lease. However, a lease may be entered into with the option to purchase the equipment during the life of the leased or at the end of the lease period. If it is determined that the leased equipment will be needed on a continuing basis, it is usually more economical to exercise the option to purchase, provided funds are available to make the purchase.

Rental Agreements

4.3.1 Rental requests should be submitted to the Purchasing Department on a procurement request with an explanation justifying the need for the rental, a copy of the rental agreement, and any other communication concerning the request. The Purchasing Office will forward this material to the State Purchase and Contract Division for review and action.

Reasons for Renting

4.4.1 It may be desirable to rent equipment for a short duration for a specific requirement. Rental agreements are similar to lease agreements, except that rental agreements are normally for an indefinite period and can be terminated by the rentee after giving notice, usually thirty days in advance. The initial cost of some equipment, such as computers, is so great that when this type of equipment is required, it may be more economical to rent on a continuing but indefinite basis. Also, new, updated versions of this type of equipment are constantly placed on the market, making it unwise to invest large sums in equipment which may soon be obsolete.

Additional References

Authority

Contact Information

Effective Date

Revision Dates

Retrieved from "https://policy.appstate.edu/index.php?title=Surplus_Property&oldid=10905"