Sale or Disposal of College Assets Procedure -70.02.02

College Policy Number/Title:

• 70.02 College Furniture, Equipment, and Vehicle Assets

No area of Howard Community College may discard or remove inventoried items from the college. Periodically, excess inventory that has not been claimed by other areas of the college may be disposed of through public sale or another appropriate method as approved by the vice president of administration and finance.

Inventoried furniture and equipment* that an area would like to dispose of, may be removed from the area only by contacting the event services supervisor  in the facilities department and the accounting manager in the finance office. The area inventory monitor must also be notified of all inventory movement.  In the case of asset disposals, the procurement office will be notified in order to assist with the sale.

Grant Assets

Prior to the sale or disposal of assets purchased with grant funds, the college must notify the agency sponsoring the grant. In some instances, the college must obtain permission from the sponsoring grant agency to sell the assets, and the proceeds from the sale must be forwarded to the agency. The finance office maintains documentation on the grants with this requirement.

*Computer equipment, AV equipment, or specialized equipment monitored by other departments requires coordination with that area to dispose of special inventory items (see list below).