Disposal of Capital Assets

Administrative Procedure 2.301

The disposal of Elgin Community College capital assets that no longer have residual value as determined by the administration should be considered in the following order: 

  1. Traded in for new equipment 
  2. Sold by sealed bid or public auction with an assigned minimum bid. 
  3. Donated to a not-for-profit organization. 
  4. Sold at a College “garage sale” which is open to the public. Local advertisement of sale is required. A price for each item will be made based on the recommendation of the discarding department. 
  5. Discarded if inoperable or unable to be sold, donated or traded for new equipment. 

The sale of all equipment valued at $25,000 or more will be reported to the Board of Trustees as an informational item. 

Disposal of Electronic Equipment 

Electronic equipment that is deemed by the administration to be of no value and cannot be disposed of by steps 1 through 5 above, including but not limited to computers and monitors, shall be disposed of through an Illinois licensed electronic waste recycler. 

Disposal of Grant Funded Equipment 

The disposal of Grant funded equipment requires the discarding department to first identify the funding source and if the equipment was grant funded, notify the Finance office immediately. 

The office of Finance will determine whether any other federal grant program can use the equipment. If the equipment has no value to other programs, disposition instructions will be requested from the grantor. 

Refer to OMB Circular A-21 for the most current definition of equipment.

Print Page