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UNIVERSITY SURPLUS PROPERTY
G. Distribution of Surplus Property
Trinity University is committed to ensure that all of the University's physical assets are used in a most effective manner. The University will dispose of assets by means of an annual sale to the university community or donations to non-profit agencies. For additional information reference the Finance & Administration Policies and Procedures for property management: http://www.trinity.edu/departments/fiscal_affairs/fapolicy/facility/propmgmt.htm#TOP
The purpose of this policy is as follows:
To encourage identification of University assets that are no longer required by the present user or department;
To ensure applicable taxes are collected at the time of disposal or transfer of title of the asset;
To obtain maximum benefit from the University assets which are considered to be of no further use to the present user or department, by optional use internally, trade-in on new purchases or sale to outside parties;
To document the transfer of sale of University assets; and
To ensure that the University community is made aware of availability of useable equipment or furnishings.
This policy applies to physical assets of Trinity University.
The disposal of movable University assets shall be the responsibility of the Purchasing Office. The Director of Purchasing may delegate his or her decision-making authority to another person within his or her area, while retaining functional authority.
Surplus assets include furnishings and/or equipment originally purchased with the following:
General operating funds;
Capital equipment funds;
Research grant funds which are now lapsed;
Donated property; or
any other funding.
Complete an Equipment Transaction form T U 006 for all university assets that are no longer needed. Refer to: http://www.trinity.edu/departments/fiscal_affairs/fapolicy/general/forms/equiptrn.htm#TOP. Instructions and distribution of copies are detailed on the form.
Distribution of Surplus Property
1. The Purchasing Office will determine the distribution of surplus assets based on the overall condition. Any pertinent comments concerning the condition of the asset should be included on the T U 006 to aid the Purchasing Office in their determination.
2. Surplus items in good condition will be made available to other campus departments or offices. Contact the Purchasing Office for requests.
3. Remaining items will be sold to the campus community through an annual surplus sale.
4. Surplus computers are sold to the campus community. Contact the Purchasing Office by e-mail (email@example.com) or phone (Ext. 8227) to be added to the waiting list.
5. Trade-in or exchange of University property must be approved by the appropriate vice president prior to making the commitment.
6. The sale of surplus property to other entities must be coordinated through the Purchasing Office before making the commitment.
7. Collection of Sales Tax:
For-Profit Entity inside the State of Texas; Collection of state taxes is required unless the purchase is for resell at which point a Texas Resale Certificate is required.
Entity from outside the State of Texas; No sales tax collection is required unless a representative of the entity picks up the property at Trinity.
Non-Profit Entities; No collection of state taxes is required but the entity must furnish a Tax-Exempt Certificate.
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For further information, please call (210) 999-7306, or write to:
Office of Finance & Administration
One Trinity Place
San Antonio, TX 78212-7200
This page is provided to you for informational purposes. Trinity University does not assume liability for omissions, typographical errors, or policy changes that are not updated immediately on this or other official university web pages.
This page was last modified on June 25, 2012.