must be recorded using the procedures outlined in the "Fixed Asset Policy" manual.
7.8 Surplus Sales Surplus equipment is any inventory item considered obsolete or unusable by instructional, administrative or physical plant departments. Prior to any item being listed for surplus sale, a review of such items shall be made by the Senior Staff Accountant in the Controller’s Office, Internal Audit Department and Campus administration to determine if there is any value or use for these items. The Campus shall dispose of all items that have been determined to have no further value to the College (broken, unrepairable, etc.). This will insure that only items of value will be sent to the central warehouse for either sale or donation. The detailed procedures for conducting a surplus sale are contained in the "Fixed Asset Policy" manual. SECTION 8: PURCHASE OF GOODS AND SERVICES
8.1
Purpose The purpose of this regulation is to insure that the College receives fair value in the purchase of all goods and services that it acquires and that fair and open competition is allowed for the provision of those goods and services where practical. When determined to be cost effective, the College may utilize cooperative purchasing agreements for the purchase of goods and services, subject to the approval of the Vice President of Finance. Scope Except to the extent otherwise expressly exempted or excluded below, this regulation applies to the procurement of all goods and/or services by the College, whether for operating supplies and services, capital equipment or acquisition or construction of real property. Established Procurement Thresholds In order to provide for appropriate competition, the College shall utilize a three-tiered system as follows: 8.3.1 For Construction and Repairs (in accordance with Article 35.51 of PA the PA Code) – (a) Contracts less than $5,000 may be awarded without soliciting competitive quotes or bids. (b) Contracts exceeding $5,000 but less than $20,000 require competitive quotes
8.2
8.3
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