12.17 University Surplus

(3/17; amended 8/24/22)

1. All university-owned items must be disposed of by University of Iowa Surplus.
2. UI Surplus will dispose of the property in one of the following ways:
   1. Allow department to use as a trade-in;
   2. Transfer to another Regent Institution, state agency, or Iowa government entity;
   3. Auction to the highest bidder;
   4. Sell internally through UI Surplus sales open to the public;
   5. Negotiate a direct sale to an outside entity when in the best interest of the institution;
   6. Dismantle for parts utilization;
   7. Recycle or dispose of in the best interest of the institution if de minimis residual value.
3. Departments receive reimbursement for items selling for more than $300. Sales-related expenses are deducted from the selling price.