Policy Statement

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.

Procedures

UGA owned property cannot be sold directly to UGA employees. No UGA owned property should be donated, transferred or loaned to other individuals/institutions/businesses/etc. without consulting with Asset Management. A memo of understanding or loan agreement will be required for any equipment on loan. UGA employees are not allowed to dispose of (trash) any UGA assets or property.

Forms Instrucitons

All Asset Management Forms can be found at the following site: https://busfin.uga.edu/property_control/property_control_forms/

Additional Contacts

Asset Management , 706-542-4390, property@uga.edu

Record Retention

For all assets all documentation should be retained for 5 years after disposition of equipment. [0472-01-005]

FAQs

If my department no longer needs an item, may I purchase it for personal use?

No

If my department wishes to sell an inventory item rather than transfer it to Surplus, can we sell it and receive the funds from the sale?

All sales of University of Georgia equipment must receive prior permission from the State of Georgia Department of Administrative Services (DOAS). Contact Asset Management at 706-542-6988, or the Surplus Property Manager at 706-542-6983 for details on the proper handling of each sale.

Responsible University Senior Administrator: Vice President for Finance & Administration

Responsible University Administrator: Associate Vice President for Finance Division

Policy Owner: Asset Management

Policy Contact: Craig Mathews

Phone Number: 706-542-4390