Seller's Quick Guide
||School/Administrative Units identify item or group of items that are surplus or obsolete.
||Fill out an Asset Disposal form
||Head of School/Administrative Unit authorises disposal of the item
- If the item is greater than $10,000 written down value, additional approval is needed from a delegated officer.
- Consider if the item has historical, cultural or scientific significance to the University (if so offer the item to the University's museums/collections).
- Consider if the item will be traded-in.
- Write off and dispose of items that are obsolete, unserviceable or beyond economical repair and cannot be sold (written approval from a delegated officer is needed).
||Advertise items for sale
||Assess the bids received
Priority is given to internal applicants, i.e. other University of Sydney School/Administrative Units.
- If no bids are received, donate to charities, schools, colleges or non-profit organisations.
||Authorise sale to successful bidder on Asset Disposal form
||Notify successful bidder
- Successful internal bidder completes an Asset Disposal Terms and Conditions of Sale form and collects the item. Selling department/unit does journal transfer for the payment.
- Successful external bidder makes payment for the item(s) through the University Cashier in cash, EFTPOS, credit card or bank cheque and is given a receipt by the University Cashier.
- Selling department/unit completes the Deposit/Receipt Cashiers Office form and gives it to the external bidder to hand over to the University Cashier.
- Successful external bidder takes orginal receipt to selling department/unit, completes an Asset Disposal Terms and Conditions of Sale form and collects the item(s) purchased.
||Selling School/Administrative Unit completes the Asset Disposal form and updates the University's Asset Register (PeopleSoft).
Refer to the Finance and Accounting Manual’s Asset Disposal Procedures for more details.