Property Disposition Policy
West Virginia University Policy
Division of Administration and Finance
PROPERTY DISPOSITION POLICY
Reason for this policy:
The purpose of this policy is to inform University employees of the conditions that must be met for surplus/excess property to be authorized for disposal, redistribution, transfer or sale.
To whom does this policy apply?
This policy applies to all departments of West Virginia University, inclusive of its divisional campuses and the West Virginia University Research Corporation.
Equipment, supplies, computers and computer-related items and any other items or material that is obsolete and/or no longer needed by the holder of the item.
Goods produced in the course of fulfilling the University’s mission of instruction, research, and public service. Examples include but are not limited to: Greenhouse plants, Ceramics, Timber, Farm sales, Costumes from our Theatre Department, etc.
WVU Owned Property
Property acquired by West Virginia University, inclusive of West Virginia University Research Corporation and our divisional campuses is generally titled to West Virginia University except where the funding entity has demonstrated in writing their intent to retain/transfer title. This could be in written or electronic form or a reference to agency code in the award terms and conditions.
Before disposing of WVU owned property, departments must submit a Surplus/Disposal request to the Property Management unit within Financial Services Department. All property submitted as surplus will be screened to ensure maximum utilization within the University has been met prior to disposition action. In most circumstances, property will be housed at the Redistribution Warehouse for review and redistribution within the University community until time of disposition action. No one is permitted to donate, give away, sell or otherwise dispose of any surplus or excess property, except as outlined in this policy.
If the property cannot be used elsewhere in the University system, the Property Management unit within the Financial Services Department will declare it surplus. Property Management will use the most appropriate and advantageous disposal method which includes:
- Auction, publicly advertised and held;
- Sale under sealed bid, publicly advertised and held;
- Exchange or trade; or
- Transfer to other State of West Virginia governmental agencies or institutions
Property Management has the authority to grant exceptions to the above disposal methods for unique surplus items or for items that are considered to be an educational by-product. Any approved alternative disposal methods will be cost-effective and will comply with the West Virginia Ethics Act to ensure that surplus materials are not disposed of for personal gain or benefit. Please contact the Property Management unit within the Financial Services Department to seek advance/written approval to use a disposal method outside of those listed above.
Sponsored Award Funded Property
Assets acquired with sponsored awards are subject to the terms in the sponsored agreement. Title to the property may or may not be retained by WVU, and disposal may be subject to restrictions imposed by the sponsor. Please contact Property Management within the Financial Services Department before the disposition process begins for property acquired on sponsored awards.
Transfers of Sponsored Property
When a Principal Investigator (PI) relocates to another institution and transfers their sponsored award to the new institution, a property transfer request will be granted for those items purchased from the award that is being transferred. The transfer of the award to the new institution must be processed and approved by the Office of Sponsored Programs, and the transfer of property must be approved by the Property Management unit within the Financial Services Department.
Procedure development rests with the Property Management unit within the Financial Services Department.
All employees are responsible for supporting this policy. It is the responsibility of the dean or director to implement and maintain this policy within the department, unit, or organization.
The responsibility for interpretation of this policy rests with the Property Management unit within the Financial Services Department.
Additional information or questions regarding this procedure can be obtained by contacting the Property Management unit within the Financial Services Department, at 304-293-4002.
EFFECTIVE DATE: April 1, 2014
Narvel G. Weese, Jr., Vice President for Administration and Finance
Daniel A. Durbin, Senior Associate Vice President for Finance