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University of Louisville
 OFFICIAL
UNIVERSITY
ADMINISTRATIVE
 POLICY
 
 
This policy applies to University Administrators, Faculty and Staff
 
POLICY NAME
Retaining Funds from Sale of Surplus Property Items
 
EFFECTIVE DATE
Unknown
POLICY NUMBER
PUR – 39.00
 
POLICY STATEMENT

A University department may sell surplus/excess equipment and retain the funds at the department level with the permission of the Associate Vice President for Business Services, or his/her designee, through a sealed bid or public auction process conducted by Procurement Services or Inventory Control.  Requests to retain the funds must be submitted in writing to the Associate Vice President for Business Services, or his/her designee, for approval.

 
REASON FOR POLICY
Compliance with KRS for University Surplus Property & Disposal.
 
 
HISTORY
 
Revision Date(s):
Revision Date(s):
Reviewed Date(s):
 

ADMINISTRATIVE AUTHORITY
Vice President and Chief Financial Officer

RESPONSIBLE UNIVERSITY DEPARTMENT/DIVISION
Sally Molsberger, Director - Procurement Services
Service Complex, University of Louisville
Louisville, KY 40292
502-852-8224
purchase@louisville.edu

The University Policy and Procedure Library is updated regularly.  In order to ensure a printed copy of this document is current, please access it online at http://louisville.edu/policies.

 

 

 
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