Wayne State University

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6.3 Equipment Disposition

Equipment disposal should occur when assets no longer serve their intended purpose.  This can result from technological advances, normal wear and tear, and destruction through natural causes or theft.  If the equipment was capitalized, the item will be "retired" in the Fixed Asset System and identified with an appropriate disposal code.   Equipment purchased on a grant or contract may require a slightly different or more extensive disposal procedures based on the award provisions.

All equipment disposals may only be authorized by Finance and Bussiness Operations.  The process and procedure for such disposals is administered by Finance and Business Operations through the Property Management Office (PMO).   No other university department is authorized or permitted to circumvent this policy and dispose of or sell university-owned or Sponsor-owned equipment. Equipment may not be sold to buyers outside WSU (employees purchasing equipment personally are considered "buyers outside WSU") without the concurrence and approval of the PMO.

All net proceeds from the sale of equipment purchased with General Fund dollars are to be returned to the General Fund.  For equipment purchased with Designated Funds or Auxiliary Funds, net proceeds may be deposited in the selling department accounts.   When the terms of the award permit the university to retain the net proceeds from the sale of university-owned equipment no longer needed, the equipment may be disposed of in accordance with these procedures and the net proceeds in certain cases, at the discretion of the Vice President of Finance and Business Operations or their designee maybe retained by the department releasing the equipment. Written approval is required for this to occur.