Surplus Assets are those that are not currently in use. Unless the University Surplus Department considers assets useful by others at the University at some future time, the assets are considered surplus to the University.
Assets not in operable condition are also classifies as surplus. Ultimately, surplus property will either be repaired or sold for salvage. The Department of General Services' Division of Purchases and Supply (DP&S) is responsible for the storage, placement to other agencies, and sale at auction or other form of disposal of surplus assets for agencies of the Commonwealth. Virginia State University sends their surplus assets to the Department of General Services, Division of Purchases and Supply for disposal. However, due to space limitations, the University is required to delay sending unneeded assets to DP&S, thus necessitating on-site storage. Many surplus assets are stored in the University on-site warehouse are reissued to other departments.
When an asset is not operable and/or not in current use and is located on-site in a department, it is classified as surplus.
Departments should submit the Surplus Property Form to the FAACS/Surplus Property office to request removal of the physical items from the department and adjustment to the department's fixed asset inventory. The Surplus Property staff removes surplus assets from the department to the surplus warehouse.
Departments should submit the Equipment Relocation Form to report the relocation of equipment from one department to another. This form is also used to report the transfer of equipment from the current room to another room in the department. The location of the equipment (room, building, department) should match the location in FAACS. The submission of the form to the Surplus Property office corrects the location in FAACS. Moving and Hauling staff from the Facilities Management department relocates the equipment. The original form should be submitted to FAACS with a copy to Facilities Management.
Departments should submit the Equipment Release Form to report equipment relocated off site of Virginia State University. The original form with required approvals will be maintained in the FAACS office with the departments inventory records.
Departments submit the Surplus Property Request Form to request equipment stored in the surplus warehouse. Department employees are allowed to visit the warehouse and select equipment to be transferred to the requesting department and added to the department's inventory.
All assets must be formally reclassified as surplus once Surplus Management determines they
- Have served their useful purposes, and/or
- Are not longer functional, and/or
- Cannot be repaired or improved in a cost-efficient manner, and/or are not needed for use within the University