Surplus Property (Policy 5.081)
|Authority:||F.S. 274.05, .06; 1001.64; 1004.65; 1013.28|
|Date Adopted:||3/99; Rev. 08/03, 12/04, 03/09; 05/2013|
|Date of Review:||05/09; 08/11; 04/13|
It is the policy of the Board of Trustees that tangible personal property of the College which has become surplus shall be disposed of in accordance with Florida statutes and Florida Board of Education Rules.
- Tangible personal property is defined as college-owned, non-consumable property that is either capitalized or tagged for inventory purposes.
- Surplus property is any tangible personal property of the college that is obsolete, or the continued use of which is uneconomical or inefficient, or which serves no useful function as determined by the custodian.
- The Executive Vice President/CFO or designee shall determine property to be declared surplus and shall periodically present to the Board of Trustees a list of such property. Approval of such list shall constitute a declaration by the Board that the property is surplus and shall authorize disposition of the surplus property in accordance with this policy.
- The Executive Vice President/CFO or designee shall arrange for the disposition of surplus property in accordance with Florida statutes and shall ensure the proceeds from any sale or auction of surplus property is properly accounted for and recorded.
- The President shall cause a procedure to be developed for the implementation of this policy.