The department of Surplus Property is responsible for the management and disposition of all University owned excess and / or obsolete property (“surplus property”) and may accept surplus property from other state agencies and/or CSU affiliates. Final disposition processes are executed in strict compliance with all applicable University, state, federal, and environmental policies, laws and regulations with the goal of maximizing landfill diversion through reuse or recycling. Surplus Property is a fully self-funded campus enterprise program.
CSU Financial Rules Policy ID# 2-6003-007: http://policylibrary.colostate.edu/policy.aspx?id=714
CSU Financial Rules Section 4.8
Surplus Property has been delegated the authority and responsibility for administering the disposal of all university property with the exception of real estate. Departments are not authorized to dispose of any items of equipment without prior approval from the Surplus Property department. No department or individual should make or authorize any sale, trade-in or donation without prior approval of Surplus Property. (12/4/17)
CSU Financial Rules Section 10.8
The Department of Surplus Property provides guidelines for the destruction of confidential information contained on microfilm, computer disk or tape, optical imaging, CD-ROM, or other non-paper medium when the storage device itself is being removed from service. All computers, digital storage devices, flash drives, and other media capable of storing University records and information must be turned over to Surplus Property when removed from service. Such items should never be transferred to another entity, other than through Surplus Property, nor permitted to be converted to personal use. (12/4/17)
Declaring Surplus Property
A University department that is in possession of surplus property in their area shall initiate one of the following documents to begin the removal process:
1. Non-Capital Property
For all non-capital property, the Equipment Accountability Change Request (EACR) must be utilized and can be found at eacr.colostate.edu. Additional training material and information on completing this form can be found at http://bursar.colostate.edu/Depts/PropMgt.aspx
2. Capital Assets
For all capital assets, an Edit Document should be utilized in the Kuali Financial System. Training material and information on properly completing this document can be found at http://bursar.colostate.edu/Depts/PropMgt.aspx.
There are certain items that Surplus Property does not have the ability to transport, process, or sell due to their hazardous nature. A list of these items can be found at http://cr.colostate.edu/surplus-for-departments.html. For questions regarding these types of items and the proper disposition method, please contact the Surplus Property Department or Environmental Health Services Department.
Disposition of Surplus Property
The sale of surplus property will be facilitated with the goal of maximizing value for the university and will be conducted through storefront sales, auctions, negotiated sales, sealed bid auctions, or as otherwise determined by Surplus Property. The sale / fair market value for individual items will be determined by Surplus Property through a comparative market value research / appraisal and or bid process when working with unique and high value items.
If a sale or requested disposition is not generated in a reasonable period of time while exhausting all available known and approved sale outlets, and / or at the department’s request, the property will be physically returned to the department. If the property is a capital asset, it is also transferred back to the department through the Kuali Financial System (KFS). Fees associated with the transportation and attempted sale will be charged to the department.
A. Recycling Fees
Due to costs associated with recycling non-marketable electronics and other hazardous materials, applicable fees will be charged back to departments. For a list of recycling fees please go to: http://cr.colostate.edu/surplus-for-departments.html
B. Other Fees
For the sale or final disposition of property, other fees may be incurred such as advertising fees, auction fees, appraisals, removal, transportation, processing and labor requirements, storage, or other expenses that may arise.
3. Sales Disclaimer
The property sold by Colorado State University (CSU) to seller is “as-is, where-is” and with all faults, latent and patent. CSU makes no warranties with respect to the property, and there are no implied warranties of merchantability or of fitness for a particular purpose. CSU further makes no representations concerning the condition or intended use of the property. Buyer bears all responsibility to verify the condition of all items. Buyer accepts all responsibility for the use, protection and / or storage of the property. All sales are final and property must be removed from its sale location at the time of purchase unless otherwise specified.
Reallocation of Revenue
Revenue from surplus property sales, other than IT equipment, will be reallocated back to the original owning department as follows:
Surplus Property retains the first $100 on all individual sale items plus 10% thereafter with a cap of $500. Reallocations will be determined after deducting all fees and expenses as outlined above in 2B: Other Fees.
Due to the detailed handling and data sanitization needs of IT equipment, reallocations do not apply.
Exceptions may occur outside of these guidelines related to unique situations.