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Surplus Property

 
Procedures

If you are a campus department needing to dispose of excess property, you must complete a UM Form 27 Property and Inventory Change Report and submit it to UM Surplus Mail Box. Once the form has been received, Surplus will pick your items up within 7-10 business days. However, if the request is during the week of the auction, it could take up to 14 business days.

If you are a campus department needing to dispose of excess property, you must complete a UM Form 27 Property and Inventory Change Report and submit it to the hospital movers. Once the form has been received, the movers will schedule a time to pick up your items and bring them to surplus. However, if the request is during the week of the auction, movers may not pickup until they can bring to surplus.

If the item being surplussed or disposed of contains hazardous materials (i.e. oil, mercury, Freon, asbestos, lead, florescent bulbs, batteries, unknown substances, etc) the department is responsible for preparing and ensuring the item has been appropriately prepared for pickup by Surplus or other moving staff.
Please review Surplus Property Guidelines for Items or Materials Having EH&S Safety Concerns.

NOTE:Surplus items containing hazardous materials will not be picked up without appropriate preparation by departments.

As of July 1, 2017 to help offset the increased cost on certain hazardous items, Surplus will charge a disposal fee for CRT monitors($25) and Televisions($50).

 

Disbursement of Funds

If an item has a value of $50 or more as determined by University of Missouri Surplus or the actual sale price, a portion of the funds may be returned to the campus department. In order for funds to be returned to the campus department a written request for the funds must be made at the time the item is declared surplus. The written request must include a PeopleSoft MoCode to be used for reimbursement purposes.

If a department requests a portion of any income from sale of an asset be returned to the department, the sale price will be reduced by any costs associated with selling the item. Costs may include, but not limited to on-line auction fees, advertising costs, auctioneer costs, and labor costs, including fees for items which did not sell.

For items with a value of $50 or more when reimbursement has been requested and a MoCode has been provided, University of Missouri Surplus Propery will reimburse the originating campus department 65% of the sale price minus any fees.

Items with an individual value of $49.99 or less will not be tracked and proceeds will not be returned to the campus department.

The funds retained by Surplus Property are used to offset the operational costs of the program.