DISPOSITION OF COLLEGE PROPERTY PROCEDURES
Procedure
Disposition of College Property
Contact Person:
Operations Manager – Tom Riffle
Goal:
Provide guidelines for disposition of college property
1) The Manager/Dean with authority over departmental-owned property being
proposed for transfer/disposal will be responsible for the following initial steps of the
procedure:
A) Identify equipment for disposal. Review Equipment Disposal Guidelines before
proceeding to the second heading, as computer and audio visual equipment are
handled by the IT department.
B) Determine fair market value of the departmental property.
C) Designate location for storage of departmental property until disposition is
completed.
D) Complete “Transfer or Disposal of Equipment Form” (located on the College
Intranet at http://matcmadison.edu/in/fixed-assets-equipment-0).
E) Review Form with appropriate Vice President and obtain his/her written approval.
F) Inform the Operations Manager/Facility Services of the departmental property
being proposed for disposal or transfer by forwarding “Transfer or Disposal of
Equipment Form” completed and signed to the Facility Services office. If it is
determined that equipment is indeed to be disposed, complete other forms if
necessary.
2) Operations Manager/Facility Services has the following responsibilities related to the
disposal/transfer procedures:
A) Evaluate the disposition request based on data provided in the “Transfer or
Disposal of Equipment Form.”
B) Verify that there are no restrictions by other agencies on the disposal/transfer of
the identified departmental property. Assets with fair market value cannot be
donated by Madison College.
C) For each item with an estimated value of $25,000 or more, the College must
submit a list to the Wisconsin Technical College System office for approval to
dispose of the property.
D) Establish the method of disposition:
i) Items identified for disposition to archives will be placed in Central Storage.
ii) Items identified for transfer/disposal:
a) A decision will be made following the evaluation to proceed to transfer, to
dispose, or to sell at fair market value. Items must be sold by the College
at an arm’s length transaction, such as a sealed bid, negotiated basis,
Craig’s list, etc.
Procedure – Disposition of College Property
Submitted: 05-15-10
Page 1
of 2
b) Items identified to have instructional or other useful value will first be made
available for sale to secondary schools and other governmental or
nonprofit agencies within the Madison College District.
c) If property is of no use to District, items with re-sale value will be taken to
UW SWAP (Surplus).
d) Property with no value or junk will be disposed of accordingly. Disposal is
defined as following approved recycling policies, landfill codes, and not
giving the items to someone at no cost.
E) Operations Manager will inform Fixed Assets of disposition action. Inventory
records will then be adjusted. Also, Facilities will maintain records of the
disposition action.
F) Forward payment for disposed property to Madison College Financial Resources
Department.
Procedure – Disposition of College Property
Submitted: 05-15-10
Page 2
of 2