Asset Management & Surplus Property (ASM)
POLICY 8
Effective Date: 03/01/1998
Last Modified Date: 06/09/2005
Inventory Control
Refer to Asset Management (ASM) Procedure 3 for instructions regarding the UNC decal and E/S-102 (Notice of Disposal or Change in Location).
Radioactivity Decontamination
No tool, instrument, vessel, storage cabinet, refrigerator, etc. used with radioactive materials may be moved to another department or the Surplus Property Warehouse, or considered for trade-in, until it has been fully decontaminated and cleared by the Environment, Health, & Safety Office, Radiation Safety Section.
Dispositions
Asset Management and Surplus Property are the only departments authorized to dispose of or transfer obsolete and surplus University property. Departments having surplus property may contact the Surplus Property Officer at 962-2134 for disposal instructions.
University departments may turn in surplus property to the Surplus Property Warehouse, give it to another UNC–Chapel Hill department, or sell it to another UNC–Chapel Hill department.
Transfer of Surplus Property
Direct Transfer
Property that is surplus to one department may be sold or transferred directly to another department (omitting transfer to the Surplus Property Warehouse). This lets departments recover some cost for equipment that is no longer needed. When an agreement is reached on the transfer value, send an Account Adjustment Request (Form AJ-1) to Accounting Services for processing.
Notice of Transfer
Any item bearing a UNC Decal Number is on record in the Asset Management Department (962-1382).
See: ASM Procedure 3, Equipment Traded, Sent to Surplus, Sold from Surplus, or Scrapped
Trade-in of Equipment
Higher Value as Trade-in
The trade-in of some used equipment (such as office machines and scientific equipment) against the purchase of similar new equipment often has a higher value than the direct transfer or resale of such equipment via established surplus property procedures. When used equipment is to be traded in, identify it on the new equipment Purchase Requisition by make, model number, original acquisition date, original cost, UNC decal number, serial number, and original Purchase Order number (if available). In soliciting bids, the used equipment will be offered as a trade-in item. Vendors will have the option to bid both with and without the application of the trade-in allowance. A vendor may not remove equipment prior to authorization by Purchasing Services.
See also MSD Policy 52, Trade-in Allowances
Obtaining Surplus Property
Department Acquisition
For a nominal charge, University departments may acquire equipment turned in to the Surplus Property Warehouse.
Inspect and Reserve Items
Departments interested in Surplus Property items should have someone inspect the material to be sure it is suitable for their needs since purchases are on a non-refundable basis. Sales are first-come, first-served, so the Surplus Property Officer should be advised of a department's interest and asked to hold the desired items until arrangements are made for transportation.
Billing
Campus departments receive an invoice for each surplus purchase. (This invoice is for information and department records only; do not submit it for payment.) The Capital Asset Manager submits a journal voucher to Accounting Services for all departmental purchases.
Disposal of Surplus University Property
Sale of State-Owned Surplus Equipment
The University's Surplus Property department conducts sales to the public every Tuesday and Friday from 8:00 a.m. until 4:00 p.m. (closed 12:00–12:30 p.m. for lunch). Merchandise is sold as is, for cash only. No returns are permitted and no refunds will be issued.
Items not sold through the UNC–Chapel Hill Surplus Property Property Warehouse are sent to the State of North Carolina Surplus Property Division in Raleigh. Those items are generally sold to the general public on a sealed-bid basis.
Additional Information
ASM Procedure 3, Equipment Traded, Sent to Surplus, Sold from Surplus, or Scrapped
MSD Policy 52, Trade-In Allowances
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