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.
An item to be traded-in must be listed on the purchase request for the new replacement
item. The inventory identification number, description and serial number of the item
traded must be listed along with the trade-in allowance. The Property Control Office
will remove the traded item when payment is made on the replacement item. (See the
section for more information on trade-ins).
For all assets all documentation should be retained for 5 years after disposition
of equipment. [0472-01-005]
What kind of information and/or documents does the Property Control Office need to
remove from the inventory an old item which was traded in for a new item?
The University of Georgia permits the trade-in of equipment for the purchase (not
the leasing) of like items, i.e., lab equipment for lab equipment, etc. Trade-ins
must be handled through the Procurement Department. For details see the Procurement