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IUPUI Surplus & Dispensation Policies

Through a mandate from The Trustees of Indiana University, it is the University's policy to make maximum use of furniture, equipment, and other such property, and to transfer to Surplus Property, a Unit of IUPUI Office of Financial Services, any such property no longer required by a department or division. It shall be the responsibility of the Office of Financial Services to relocate surplus property from one department, to another department.

Excerpt from the Institutional Policy on Disposal and Redistribution of Property: When an item no longer is wanted by a department, the Office of Financial Services will attempt to redistribute the item within the university based on equitable criteria. Should there be no need for the item within the university, then it may be sold or traded outside the university.

Unusable property or parts that can be sold for junk will be accumulated and sold by the Office of Financial Services, and, if un-sellable as junk, it will be properly discarded. Usable property which cannot be relocated with a university department will be disposed of in accordance with the following procedures.

Treatment of Property

Policies:
See Institutional Policies P14.0 and P14.1 for further documentation governing disposition of IU property.

Trade-in:
Generally, property may be traded-in against the purchase of other goods/services via a valid IU purchase order transaction. This procedure should be coordinated with the Purchasing Manager in the Purchasing Services Department before a purchase order is issued.

Off-Campus Use:
Before equipment can be removed from university premises for a period of thirty-one days or more, an Equipment Loan/Return document must be created and approved in KFS and an IU tag must be attached to the equipment. For more information on Equipment Loans, see CSOP 6.0 Equipment Loan.

Approvals:
Equipment, other than Federally owned or funded must have the approval of the department Chair/Manager/Director for off-campus use.

Other:
Department should contact the Risk Management department to inquire about insuring the equipment. The department is ultimately responsible for safeguarding equipment. Equipment Loan Request documents must be renewed after two years, until the equipment has been returned to the campus premises. Off premise equipment must be available for inspection upon reasonable notice. Property residing at any off-campus location is not insured by the University. The Risk Management Department should be apprised of any such situation where property resides off-campus.

Giving Property Away:
Regardless of condition or value, you may not give IU property to any person or entity. In some situations, property may be donated to agencies or entities. However, this process can only be accommodated through the Surplus and Purchasing Services Departments.

Property
Goods, material or items, regardless of cost or value, that are purchased or received through a sanctioned Indiana University process.
Capital Asset
Capital equipment is tangible property having an acquisition value of $5,000 or more and a normal life expectancy of one year or greater. Standard Operating Procedure for the Capitalization of Moveable Equipment: SOP link
Title
The title to or ownership of all University Property is vested in the Board of Trustees of Indiana University. Title to federally purchased property may be retained by the sponsoring agency or vested in the University, depending on the regulations of the agency and the terms of the research contract. In no case whatsoever does property become the property of the project director or the principal investigator or any other individual unless sanctioned acquisition processes have been followed.

Methods of Sale:
For surplus property that may retain reasonable value, offers to buy may be solicited. This procedure for selling property must be handled by a Purchasing Manager within the Purchasing Services Department. The sale of property is the responsibility of the same Purchasing Manager who has the buying responsibility for that property. When a department wishes to dispose of property, Surplus Property Management may make the determination of the potential value of the surplus and if it can be sold through their efforts.
If property is deemed un-saleable and the property is too large or to numerous to be disposed of in your normal Building Services disposal process, the Campus Moving Services Contract Vendor should be contacted to have the property moved to the surplus warehouse for disposal. Throughout the IUPUI Campus, there is a considerable variety of equipment, furniture and other items that are under-utilized or simply not used at all. An effort should be made to share this surplus and to move unused items where there is a need within the campus.

Theft:
Theft of any IU property should always be reported to the IUPUI Police Department and to the Risk Management Department. There is a $1,000.00 threshold for general property. Any loss at $1,000.00 value or less is not covered. Theft of cash/currency should also be reported to the Internal Audit Department in addition to IUPD and Risk Mgt. Unless secured by a valid University process, possession of IUPUI Property by an individual, regardless of value, is considered theft or conversion of state property.

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