Policies & Procedures


 

Section: ACT
Part: PRO
Statement No.: 10.4
Date: 05/15/2009
University of North Carolina - General Administration
Administrative Policies and Procedures Manual
Title: Process Fixed Assets Disposals

1.             Disposals of Fixed Assets

 

Purpose: To provide a methodology for consistently disposing of fixed assets through the State Surplus Property Office

 

Documents Needed:          

·       Fixed Asset Record Adjustment Form

·       Disposition of Assets (UNC Surplus Form)

 

Procedures:

 

Performed By:                     Steps:

 

 

Department                            l.               Recognize that a fixed asset is no longer useful to UNC-GA. Notify the Fixed Asset Officer of the need to dispose of the property by completing the Fixed Asset Record Adjustment Form, State Surplus Property Form, Annual Inventory Worksheet notes, departmental communications, etc.

 

Fixed Assets Officer             2.             Collect and store the asset to be disposed. (The FAS Officer usually gathers several items before completing the remainder of this procedure).

 

3.            Notify the State Surplus Property Office in Raleigh by memorandum that several items at UNC-GA need to be disposed. Identifies each item by giving the decal number and a description of the item.

 

4.             Receive the approval of the State Surplus Property Office to dispose of the items identified in Step 3. Turns the items over to the UNC-CH Surplus Property Office for disposition.

 

                Note: Although approval to dispose of surplus property must be received from the State Surplus Property Office, the items are actually taken to the UNC-CH Surplus Property Office for disposition.

 

                Note: Motor vehicles are not surplused through the UNC-CH Surplus Property Office. Motor vehicles are disposed of directly through the State Surplus Property Office in Raleigh.

 

5.             Complete and submit the Disposition of Assets Form, Surplus Proprty Disposal Form, Annual Inventory Worksheet with instructional notes, departmental communication, etc. for each item disposed of through Surplus Property.Send the form to Fixed Asset Technician to update the Fixed Asset Inventory.