Surplus Property
Surplus property is a component of the Office of Fixed Asset Management. Surplus property is any property owned by William & Mary and therefore property of the Commonwealth of Virginia, that is no longer of use to the University department that possesses the property and wishes to have that property removed from its domain. Upon assessment of the property, said property may be transferred to another department within the University, sent to surplus for future reuse, sent to be recycled, scrapped or sold on an online auction site. William & Mary follows the Code of Virginia 2.2-1124.Disposition of Surplus Materials
Surplus property may be an item that has a William & Mary asset tag, or it may not have such a tag. Tagged assets are generally tracked in Banner and are either capitalized assets that are depreciated over a given lifetime or assets purchased with funds provided by the Commonwealth and are designated ET for Equipment Trust Fund. These assets also have requirements for a retention period. The retention periods for assets can be found by searching for ETF Retention Requirements. Many items such as office furniture and other miscellaneous office equipment may not have a tag. The same requirements to request an approved surplus transaction for tagged assets also apply to non-tagged property.
Procedure for Surplus Property Removal
When an asset is considered surplus due to no longer being adequate, is no longer functional or no longer needed and a department wishes to have it removed, a DocuSign form titled Equipment Transaction Requested: Surplus and Disposal needs to be completed. This DocuSign will be routed to the head of the department or the equipment manager and then to Surplus Property. If it is the wish of the department to have the property removed, A Work Order will be created through FAMIS with the DocuSign request attached. Facilities Management’s Moving & Storage department will pick up the property and deliver to the appropriate destination. If the asset is capitalized or has an ET asset tag, the request will be routed to the Financial Reporting Director for approval for disposal from Banner inventory. Removal of capitalized and ET assets then follow the same procedure.
The Equipment Transaction Requested: Surplus and Disposal is one of several forms for various transactions that may arise that concern assets. This and the other forms can be found by going to https://www.wm.edu/offices/financialoperations/propertycontrol/forms/
As noted previously, Moving & Storage handles the removal of most surplus requests. Facilities Management has designated each Tuesday as Surplus day for Moving & Storage to complete as many outstanding work requests as they can for any given week. They do charge a man/hour fee and that is charged to the department’s Banner Index which is required information on the DocuSign form. If a department has the means to remove the surplus themselves, the Banner Index will not be charged.
An important caveat to designated Tuesday Surplus is that the months of May and August are designated times that Moving and Storage is dedicated to student move-in and beginning of the academic year activities and then graduation, end of year activities and student move-out. These have proven to be busy times with many departments requesting surplus property to be removed and needing property from Surplus to fill changing office staffing needs. Please plan accordingly to have requests in as far ahead of these down times as possible.
If there are questions about the procedure for requesting property for surplus or the status of a request for surplus, please contact Chris Morgan, [[clmorgan]].
Surplus Property Storage
Surplus Property maintains a 600 square foot storage unit at Ironbound Mini-Storage at 4010 Ironbound Williamsburg VA 23185. Contents generally consist of office desks, file cabinets, bookcases, tables, chairs and other items that are surplus from around the University. Surplus Property also has an additional space to store surplus electronic equipment and computers at Swem Dillard Storage, 301 Tennis Court Williamsburg VA 23185. A few operating monitors are generally available, but most electronics are picked up by Computer Recycling of VA, a non-profit organization approved by the Commonwealth to benefit Virginia K-12 Schools with reconditioned computers and proceeds from sales of reconditioned equipment at their retail outlet. These locations are where drop offs are made if departments opt to move surplus property themselves. Please arrange in advance with Chris Morgan at [[clmorgan]] or 757-221-2055. Preferred hours are 8:00am-4:00pm M-F.Requesting Equipment from Surplus Property
Surplus Property that includes all types of office furniture can be requested by all University departments. The Word doc form to request equipment from surplus is as follows:
Equipment Transaction Requested- Requesting Items from Surplus (docx)
The same procedure for receiving surplus applies as removing surplus. A department may opt to pick up equipment at no charge to their Banner Index or have Moving & Storage deliver the equipment and have their Banner Index charged the man/hour cost of delivery. If there is a certain item that is not available when a request is made, the request form can serve as a wish list to be notified if a requested item becomes part of the surplus inventory.
Sales of Surplus Equipment
William & Mary will at times send surplus property to the online auction site Gov Deals. (GovDeals.com). This auction site is open to the general public to sign up for a Gov Deals account and participate in the auctions. William & Mary employees are eligible but may not participate during regular work hours and may not exceed a $500.00 bid limit per item.
