Policies & Procedures Manual - Elizabeth City State University

400.1.31on file and approved in the Fixed Assets Office indicating a transfer of the surplus property from onedepartment to another.Review Of Fixed Assets StatementsAdditionally, semi-annual fixed assets statements must be checked to assure that the items removedfrom an office and transferred to Surplus Property are no longer assigned to a department. If an itemis on a semi-annual fixed assets statement after the item has been removed from an office, pleasecontact the Fixed Assets Officer.Higher Value as Trade-InSome used equipment (such as office machines and scientific equipment) has a trade-in value higherthan its resale value on the purchase of new equipment of the same type. When used equipment is tobe traded in, identify it on a Purchase Requisition by model number, serial number, description, andECSU Decal Number, if present. A vendor may not remove equipment prior to authorization from theECSU Purchasing Department. The ECSU Fixed Assets Officer should contact the NC Division ofPurchase and Contract for guidance prior to committing to a trade-in.Department AcquisitionUniversity departments may acquire equipment turned in to the North Carolina Division of Purchaseand Contract Surplus Property Office. Departments interested in items on the list should contact thePurchasing Department.State Owned PropertyAll sales of State-owned surplus equipment (generally on a sealed bid basis, to the general public) arehandled by the North Carolina Department of Administration, Purchase and Contract Division. TheMaterials Management and Distribution Division requests the State Purchase and Contract Division todisposed of any property which becomes surplus to the University.Inspect and Reserve ItemsDepartments interested in Surplus Property items should have someone inspect the material to be sureit is suitable for their needs. Since the sale is on a first-come, first-served no return basis, the Directorof the Purchasing Department should be advised of interest and asked to hold the desired items untilarrangements are made for transportation. Transportation cost, if any, will be charged to thedepartment to which a transfer is made.