Title: Clr - Sale Surplus Property
103/285 PR Continuing 20.907 Yes
The 2003-05 Wisconsin State Budget, Act 33 requires that the net proceeds from the sale of surplus property (supplies, materials or equipment) be deposited into the Budget Stabilization Fund (Fund 286). Section 16.72(4)(b) requires DOA to promulgate rules for the declaration and disposal of surplus property. For more information on how to dispose of surplus property see section PRO-F-3 of the State Procurement Manual.
State Surplus Property - Property (materials, supplies or equipment) that meet the following characteristics, of both A and B, should be considered "State Surplus Property."
Exceptions - See State of Wisconsin State Accounting manual, section VI, sub-section 11 -- Surplus Property Proceeds.
- The property does not meet program needs for one or more of the following:
- It does not function in whole or in part.
- It is technologically obsolete
- It is not otherwise useful to the program
- It is not needed in the forseeable future to meet program responsibilities.
- It will not be replaced within the standard replacement schedule or within the current fiscal year with property that is functionally similar.
See State of Wisconsin State Accounting manual, section VI, sub-section 11 -- Surplus Property Proceeds for further information.
Institutions Which Have Budget Authority for This Appropriation:
Allowable Major Classes of Expense/Revenue:
Supplies & expense and capital
Special Restrictions or Policies/Procedures:
A. Position Control PoliciesNot applicable since there are no salaries in this appropriation.
B. Budget Control/Transfers/OverdraftsSee FAP - Budget Transfers (F5) for these limitations.
C. See Activity Codes and Definitions for descriptions.
Year-End Instructions (lapse, carry forward, etc.):
Special Instructions on Fringe Benefits:
Not applicable since there are no salaries paid.
Policy Paper References:
This information is provided as a service of The University of Wisconsin System Administration
Office of Financial Administration.
To suggest possible additions or improvements, please contact Financial Administration (608) 262-1313
Last Updated: 08/03/2004