Okla. Admin. Code § 753:11-15-3

Current through Vol. 42, No. 6, December 2, 2024

Section 753:11-15-3 - Surplus property

(a) The Trust shall maintain a current list of all surplus property held and disposed of. Such list shall include the location where surplus property

(1) is maintained;

(2) purchase price;

(3) when sold and selling price;

(4) if transferred, to which entity; and

(5) if otherwise disposed of, the manner of disposal.

(6) If any surplus property having minimal or no value or property carrying a risk of liability is disposed of, the list shall reflect that the property had minimal or no value or was otherwise disposed of because of such risk. Inclusion of assets on the surplus property list will coincide with removal of those items from the inventory system.

(b) The Trust may determine that its items, commodities, materials, supplies, equipment, or other like tangible assets are surplus when they:

(1) are no longer required for the maintenance or operation of Trust facilities;

(2) are no longer economical to operate, maintain or store, and do not provide a benefit;

(3) can be converted to more liquid assets for other immediate needs or long-term requirements; or

(4) have otherwise become excess, obsolete, antiquated, unused, or not needed.

(c) Assets may not be designated as surplus without the prior approval of the inventory control officer.

(d) While the Trust is exempt from the Surplus Property Act, it may nevertheless dispose of property in any manner set forth in the Act and may coordinate with OMES for disposal of surplus property. Other methods of disposal of surplus property are:

(1) Transfer or sale to other state agencies or the Joint Operator of the University Hospitals.

(2) Sealed bid. Sealed bids shall be received in accordance with these rules. Records of all surplus property sold through sealed bid shall be maintained and shall include the name of the buyer and the selling price.

(3) Scrap metal.

(4) Trade in.

(5) Sell any property not exceeding $25,000 with CEO approval. Property exceeding $25,000 shall follow the sealed bid procedures outlined in the Trust's administrative rules.

(6) Disposal in an appropriate waste facility, container, or with a waste service.

(e) Donations of Trust property to private individuals or Trust employees is strictly prohibited. The sale of Trust property to its employees must be at announced public sales or auctions and cannot be made through sealed bid.

(f) Payment by state entities shall be within forty-five (45) days of purchase and removal. Payment by other than state entities shall be at the time of purchase and prior to removal of property. Payment by state entities shall be by a state-approved purchase card. Payment by other than state entities may be in the form of certified funds, business check, money order, or cashier's check, except that a business check will not be accepted for an amount in excess of $2500. A private business shall provide a business tax identification number. Sales tax shall be collected unless a tax-exempt certificate is presented. Not-for-profit, non-governmental entities shall provide a copy of the letter issued by the Internal Revenue Service granting its tax-exempt status. All payments received for the purchase of surplus property are nonrefundable.

(g) All surplus property, vehicles, and equipment are sold "as is" and are nonreturnable.

Okla. Admin. Code § 753:11-15-3

Adopted by Oklahoma Register, Volume 40, Issue 23, August 15, 2023, eff. 9/1/2023