501(c)3 charitable organizations
The University of Georgia is required by the Board of Regents of the University System
of Georgia and state and federal regulations to inventory and track moveable assets.
Assets are acquired from a variety of sources and must be used for institutional purposes
and they must be disposed of in accordance to state guidelines. The Department of
Administrative Services defines surplus property as “any item that is non-consumable
and non-expendable that is no longer needed”. These items may or may not be inventoried
by the University of Georgia. There are several options for disposing of state property.
Reason for policy
Ensure all UGA assets are disposed of properly.
UGA is allowed to donate surplus to local charitable (IRS 501(c)3) organizations in
lieu of adding to and paying for waste disposal. This option can be used for equipment
that has scrap value but is not physically destroyed on site.
For all assets all documentation should be retained for 5 years after disposition
of equipment. [0472-01-005]