STATEMENT OF POLICY AND PROCEDURE
Section: Finance | Chapter: General | Page(s): 1
Subject: Sale of Capital Items Sec 3, 1O
Reviewed: New | Revised: New | Effective: 2024-02-23
SALE OF CAPITAL ITEMS
1. Capital asset sales up to $10,000 value are at the discretion of the Executive Director. If/when the Executive Director approves the disposal of an item, the following procedure will be followed:
- The Executive Director will place a value on each item after consulting the declaring department and, when necessary, outside experts.
- If the Executive Director decides that an item has no value, it will be disposed of in an ecologically safe manner.
- If an item is being replaced, a trade-in will be considered when negotiating the replacement price.
- Items of a value greater than $1,000 will first be made available to system staff and member libraries by advertisement on system email lists.
- All sale invoices, or bills of sale, will indicate that items are sold as is.
- Applicable sales taxes will be applied to the sale price whenever necessary.
