Policy Information
Retaining Funds from Sale of Surplus Property Items
Effective
Number
PUR 39 00
Applicability
This policy applies to University Administrators Faculty and Staff
Administrative Authority
Vice President for Finance and Chief Financial Officer
Responsible Unit
Sally Molsberger - Chief Procurement Officer
Procurement Services - Service Complex
University of Louisville, Louisville, KY 40292
502-852-8223
purchase@louisville.edu
History
Original Date: Unknown
Revision Date(s): May 22, 2023
Reviewed Date(s): February 14, 2020; February 21, 2023
Categories
Statement
A University department may sell surplus/excess equipment and retain the funds at the department level, in one of two ways. It can be done through a sealed bid process conducted by Procurement Services or auctioned on GovDeals.com conducted by Inventory Control.
Reasoning
Compliance with KRS for University Surplus Property and Disposal.