Surplus Property Proceeds

All surplus property must be acquired, used, tracked, and disposed in accordance with the policies found in the UA Property Management Manual.  Individual units are responsible for submitting their UA-owned property and equipment through the Surplus Property Office's online system.

All proceeds from general sales and special auctions within ALVSCE are deposited into a central Division account.  These funds are used to support the Division strategic and subvention pools, which are under the control of the Executive Council and support things like new faculty startups and off-campus maintenance costs.

Units may seek approval from the Associate Vice President, Finance and Administration to have proceeds from special auctions be returned to the unit.  Requests must be made prior to the disposal of an item, return a material dollar amount, and be used to support the purchase of new capital equipment or enhancements to existing capital equipment.  Each request is reviewed on an individual basis.  If approval is given, units must claim the proceeds from the Division within 60 days following the public auction, or will forfeit proceeds to the Division.

Grant funded and Federal Excess property have specific disposal requirements.  Please seek guidance from the unit or Division business office prior to disposing, cannibalizing, or discarding this property.


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Date Policy Created

Friday, January 1, 1999

Date Policy Revised (If Applicable)

Friday, April 3, 2015