6.4 - Disposal of Unneeded Assets

Last updated on April 10, 2023

POLICY: The College disposes of unneeded assets in accordance with the Illinois Public Community College Act.  The Act states in Section 103-41 that the Board has the power, “To sell at private or public sale any personal or real property belonging to the district and not needed for community college purposes.”

SCOPE:

This policy applies to all Spoon River College employees and any individual interested in obtaining unneeded assets of the College.

DETAILS:

1. Unneeded College assets are disposed of in one of the following manners:
   1. Private Sale: A private sale is based on administrative research.  Private sale may be a sealed bid or direct sale when deemed in the best interest of the institution.
   2. Direct Sale: A direct sale is for items having limited resale market and of interest to only a single vendor.
   3. Public Sale: A public sale includes an auction or pre-priced sale. Employees of Spoon River College may participate in the public sale.
   4. Donation: A donation includes donating materials to another non-profit organization.
   5. Salvage: Salvage is items taken to a “junk yard” for salvage value.
2. Periodically, the Director of Facilities will solicit the collection of unneeded assets. At that time and throughout the year, the Vice President may identify items for surplus by sending an e-mail to the Director of Facilities indicating the following:
   1. Description, quantity, location, and condition.
   2. The donor clearly marks the items as "surplus" with durable tape. The maintenance staff removes the items from the donor's site.
3. Periodically, the Director of Facilities circulates a list of usable items to the Vice President for possible reassignment. Items not reassigned are disposed of per the above guidelines.  Notice of a public sale is published internally and throughout the College district.
4. Buyers are required to remove items from the sale location promptly.