Pol-Retaining Funds from Sale of Surplus Property Items
policy retaining funds sale surplus property items modified Thu Jun 23 2022 14:48:23 GMT-0400 (Eastern Daylight Time)
University of Louisville
Retaining Funds from Sale of Surplus Property Items
PUR – 39.00
This policy applies to University Administrators, Faculty, and Staff.
REASON FOR POLICY
Compliance with KRS for University Surplus Property & Disposal.
A University department may sell surplus/excess equipment and retain the funds at the department level with the permission of the Associate Vice President for Business Services, or his/her designee, through a sealed bid or public auction process conducted by Procurement Services or Inventory Control. Requests to retain the funds must be submitted in writing to the Associate Vice President for Business Services, or his/her designee, for approval.
Vice President for Finance and Chief Financial Officer
RESPONSIBLE UNIVERSITY DEPARTMENT/DIVISION
Sally Molsberger, Director – Procurement Services
Service Complex, University of Louisville
Louisville, KY 40292
Original Date: Unknown
Reviewed Date(s): 2/14/2020
The University Policy and Procedure Library is updated regularly. In order to ensure a printed copy of this document is current, please access it online at http://louisville.edu/policies.