Controller's Office Procedure

I. Overview

The purpose of this procedure is to ensure the recording, reconciliation and accountability of all auctions and recycling performed by the university to dispose of tangible personal property certified as surplus is in compliance with Florida Statue Chapter 273.

II. Procedures for Disposal of Surplus Property

1. For technology assets, the department's C-Tech must complete a business asset disposal form. For non-technology, the requestor must complete the business asset disposal form. The form must be completed in its entirety to be processed for surplus pick-up.
2. To access the business asset disposal form:
   • Log into myWings and click on the Workday tile.
   • Search for create requests and select the business asset disposal form.
   • Complete the form by filling in the required information and submit.
   • After submission, the cost center manager will receive a notification to approve the disposal.
3. Once the disposal form has been approved, the equipment is moved to property surplus, located
   at Roy Lassiter Hall, Building 8/1205. Accountability is transferred to asset management until the
   disposition of the equipment is determined, either by sale at auction or recycling.
4. Authority for disposal lies with Asset Management or Assistant Controller: Disbursements and departments must seek approval prior to removal.
5. Asset Management will have the responsibility for the disposition of property.

III. Auction

1. Asset Management conducts periodic online auctions, the sale of such property determined to be surplus of the university under the following conditions:
   • Online auctions will be conducted on a set date and time and advertised on Gov Deals.
   • Auctions are conducted at the discretion of Asset Management.
2. Surplus property shall not be sold without prior authorization and certification by the Asset Manager. Any employee or agent who disposes of surplus property in violation of this rule shall be personally liable to the University for the fair market value of any such property.

III. Recycle

1. Asset Management may authorize the disposition of equipment to be used for parts.
2. Any remaining assets will be scrapped in a manner consistent with the university's recycle program and hazardous waste disposal regulations.
3. After approval by Asset Management, all surplus will be moved to a secure storage area and placed in containers, provided by Recycling E-Scrap.
4. Once storage is full, the Asset Manager will contact Recycling E-Scrap to schedule a pickup.
5. Upon pickup, detailed documentation showing the number and types of recycle assets is given to the Asset Manager.
6. Within 14 days after pickup, a certificate of destruction with an attached pickup report is emailed to the Asset Manager for review. Within 45 days, payment is made to the University.
7. Any discrepancies are handled prior to payment.

IV. Procedure for Payment and Transfer of Ownership

1. Sealed Bid - When property is disposed of by sealed bid a “Notice of Award” is sent to the successful bidder following the date and time of the bid opening. The bidder shall have 48 hours after the 72 hour posting requirement of the award has been met (unless other arrangements have been made) to make payment and remove the property from the location where it is being stored. Instructions regarding payment and pickup will be included in the “Notice of Award”.
2.  Auction
   • If assets are sold through an auction, payment is made at the time of sale to Gov Deals.
   • The transfer of ownership of the asset is done at time of payment, and bill of sale is signed by the winning bidder.
   • Proceeds received from the sale of assets through an auction/ sealed bid are recorded
    

             Note: Auxiliary departments receive 50% of the proceeds on the sale of their property.
             Auxiliary oversight committee upon request may disburse funds to respective departments.

1. Disclaimer
   • The successful bidder shall take all property in “as-is, where-is” condition without warranty of title or condition.
   • Failure to remove the property within the time allotted shall void the sale after which the university may dispose of the property by any means provided in this rule.
   • The university reserves the right to remove any property listed as surplus and offered for sale through auction or sealed bid from the public sale at any time.
   • The university may auction surplus property in lots or as single items.
   • Surplus property slated for disposal shall not be given to faculty, staff or student(s) for personal use. See Florida Statue 273.055 for disposition of state-owned tangible personal property.
   • Proceeds received from the sale of surplus assets will be used for direct support of the surplus
     process in accordance with Florida Statute 273.055.
    
2. Recycle
   • If property is recycled through our authorized recycle vendor, payment is made within 45 days from the day the surplus property is removed from university premises. The amount of proceeds due to the university is based on the current market value of metal and condition of technology assets.
   • The transfer of ownership is done at the time of payment.
   • Proceeds from recycling is recorded.

Note: No auxiliaries will receive monies from recycling.