Sale Of Surplus Property (Sample)

Reference Number: MTAS-1742
Tennessee Code Annotated
Reviewed Date: September 25, 2018
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When a department head decides there is excess equipment or material in the department, he or she shall notify the purchasing agent in writing. The purchasing agent will figure out the best way to dispose of items with an estimated value of less than $100 and inform the department head. Items with an estimated value of more than $100 shall be advertised for bidding, which will begin after the purchasing agent has received approval from the governing body. Such equipment or materials will be sold to the highest bidder.

However, the purchasing agent may transfer surplus equipment or material from one department to another. He or she must be sure the finance officer knows about the transfer or sales. With approval of the governing body, equipment or material also may be sold at public auction.

 

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