a formal solicitation that are $50,000 or more. Lastly, all emergency procurements that are made that cost $100,000 or more will be ratified by the Board. Surplus Property Other Than Real Estate It is the policy of the Board of Trustees to obtain maximum utilization from all of its property. The Business and Procurement Services Office maintains an active inventory of all assets on campus. If a product is determined to be a surplus, the Business and Procurement Services Office will investigate the best course of action. Disposition for grant funded items are handled based on the respective grant. Otherwise, priority is given to utilizing the item elsewhere on campus. The decision may be rendered to store the item for future use, or if determined to be obsolete sold at auction. Any funds received from a sale are returned to the grant (if applicable) or to the general operating fund forthe College. The Facilities office also handles the disposal of all surplus, obsolete, or scrap material. Gifts Gifts are voluntary conveyances of money and property, or the furnishing of services, made gratuitously and not upon any consideration. Gifts may be accepted by the College for programs or activities approved eithergenerally or specifically by the Board of Trustees. Gifts to the College shall be considered as property of the Board of Trustees of Hagerstown Community College when the Board has authorized the receipt and disposition under the authority of the College, of such gifts through the President, except gifts of land and buildings, which should be received by formal action of the Board and should be properly deeded to the Board of Trustees of Hagerstown Community College.
Made with FlippingBook - Online catalogs