Assets

Disposal of Surplus, Obsolete and Unserviceable Equipment

• Approved Methods of Disposal
• Computers
• GST and the Sale of Second Hand Goods
• Laptop Computers - Under Salary Package
• Motor Vehicles

Principle Statement

All assets purchased from any funds under the University's control must be disposed of in accordance with University procedures and to comply with treasury guidelines. This includes assets acquired from Special Funds such as Research Grants, Consultancies or Academic Pursuits.
PRIOR to disposal of an asset, approval must first be sought from the Director Financial Services, regardless of acquisition value (excluding small/minor items such as staplers etc.) and is coordinated by the Assets Officer.

Asset Disposal Authority

This form is the main document and must be fully completed prior to the disposal of an asset ( which includes trade-ins). Authorisation is required prior to an asset disposal, as set out on the Assets Disposal Authority. For audit purposes a copy of all relevant documentation in relation to an asset disposal is to be forwarded to the Assets Officer and will be maintained by the Assets Officer, once all requirements have been completed.
Note: Every opportunity should be given to other organisations/centres within the University to take over assets that may be of use elsewhere in the University.

Approved Methods of Disposal

An asset may be disposed of according to the following methods as recommended and a reserve value may be given by either Information Technology Division (ITD) or Facilities Management Services (FMS)or other expert:
        (1) Sold by:       Auction
                               Trade-in
                               Tender
                               Internal Transfer

       (2) Written Off:   Approved Gifts
                                Used as Parts
                                Dumping, Scrap
                                Stolen
                                “Missing”

General Disposal Information

The disposal of equipment generally which does not allow for University and/or community wide participation, is not acceptable. Centre Managers should ensure that all disposals are conducted 'at arm's length' arrangements and according to procedures.

Auction

Where Auction is recommended, contact FMS who will arrange collection. If the item is not sold at auction, it will be either dumped or given away as a donation to an approved organisation.

Trade-in

If appropriate, assets may be traded in on purchase of a new item. The Assets Disposal Authority must first be filled in and authorised before trade-in occurs. Include on the disposal form details of the value of the trade-in expected.

Tender (See Tender Policy)

Internal Transfers

As deemed appropriate, some items will be held in storage, which may be of use to other Schools/Centres within the University. Notification via email will be distributed from time to time advising as to what is available by FMS.

Approved Gift

Donations to organisations must be 'at arm's length', such as to another educational body, library or recognised community organisation. The Assets Disposal Authority must first be filled in and authorisations and recommendations adhered to prior to donating/disposing of item.

Used as Parts

Some unsaleable items may have reusable components and the Centre may arrange for removal of these prior to the item being scrapped. Alternatively, some items may no longer be functional and may be held for spare parts. In these cased a correctly authorised Assets Disposal Authority should be completed and appropriately signed.

Scrapping/ Dumping

Scrapping of assets is undertaken when it is considered uneconomical to proceed with disposal by any other means. In the remarks section indicate how the asset is to be disposed of. ITD or FMS will confirm or advise otherwise. On authorisation the item may be destroyed or dumped in an appropriate manner.

Stolen****

Should first be reported to Security (Telephone Extension 2099), advise Insurance Officer(Telephone Extension 3495) and notify the NSW Police Department. The head of area or designated person where loss occurred will need to liaise with police. Fill out Assets Disposal Authority and attach details of how the item was stolen. Forward the Disposal Authority to the Insurance Officer who will forward the form to the Assets Officer.****

Disposal of "Missing" Assets

When an asset is identified as "missing" every effort must be made to locate the item. An asset must have a status of "missing" for two consecutive stock takes before application can be made for write-off. A detailed report signed by the EXECUTIVE DEAN/DIRECTOR explaining the possible circumstances of the loss and action being taken to track the missing asset and to prevent future disappearances, must also be provided.

Direct Sale/ Acceptance of Offer

Under no circumstances are any items to be sold directly to any individual or organisation except in special circumstances. Application for a direct sale must be made to the Director Financial Services and be supported by the Executive Dean/Director, responsible for the assets concerned.

Approval to Take Equipment from UNE Campus

Items equipment may only be taken off campus with the prior authorisation of the Executive Dean/Head of the Department. This authorisation should be obtained when completing the "Approval to Take Equipment from UNE Campus" form and then returning the form to the Assets Officer Financial Services prior to borrowing the equipment.
The borrower must accept responsibility for the equipment by completing the "Terms and Conditions of Borrowing Equipment" section on the back of the "Approval to Take Equipment from UNE Campus" document.
Note: Equipment in this respect relate to all equipment of whatever value i.e. includes items that may not be recorded on the assets register.

Motor Vehicles

The Sale/Disposal of a Motor Vehicle will be based upon an agreement between the Supply Officer and the Vehicle Pool Supervisor. This Agreement is verified by the Director Financial Service.

Motor Vehicles are to be Sold/Disposed of in the following manner:

• Sold to a Salary Packaged Driver
  • The University of New England's Salary Packaged Guide offers the driver of a Salary Package Vehicle the first option to purchase that vehicle, at the end of the agreement. However, the driver must still agree to the purchase price as agreed to on the day when the vehicle is to be sold. The selling price will be calculated by the Supply Officer and the Vehicle Pool Supervisor by using 'average of' supporting documentation from the Auction Sales and/or Web Sites, such as "drive.com.au", and "redbook.com.au".

• Sold to a local Motor Dealer
  • All the Local Motor Dealers have requested access to purchasing University vehicles prior to them being sent to auctions in Sydney/Newcastle and /or Brisbane. In order to fulfil this request, a list of vehicles for sale, will be forwarded to all the major local Motor Dealers from whom the University purchased the vehicles. The Local Motor Dealers must however, meet and/or better the Reserve Sales Price as set by the Supply Officer and Vehicle Pool Supervisor. The offers will be vetted and acceptance recommended by the Assets Officer.

• Sold at Auction
  • All University vehicles not purchased by the Salary Package Driver or a Local Motor Dealer will be sent to Auction in Sydney/Newcastle or Brisbane. The destination of the auctions depends on the Market trends at the time of sale.

The Reserve Sales Price for Motor Vehicles

The reserve price that was set on acquisition of a motor vehicle may not strictly reflect the current day value of the vehicle when it is to be actually sold. The selling price will be calculated on the day and will be the average of the following:
(a)  The going prices obtained from the most recent Auction Sales and/or
(b)  Web Sites, such as "drive.com.au", and "redbook.com.au".

Computers

The Sales/ Disposal of Computer/Electronic Equipment will be as follows:
(i) University owned computers are to be disposed of as per the
 recommendations on the Assets Disposal Authority and in
 accordance with the General Disposal information above.

IMPORTANT NOTE: Disposal of Computers

Any University computer disposed of must have all University software and user files removed from the hard drive prior to disposal. The Windows and operating system to remain on the computer with software discs/manuals supplied, if available.

GST and the Sale of Second Hand Goods

It should be noted that 10% of any sale proceeds must be paid to the Goods and Services Tax account.