Number: 3.80
Title: Disposal of School Property
Effective date: August 2004
Re-approved: June 2014
Supersedes: 3.80
Dated: May 2002
It shall be the policy of the Board to dispose of surplus or obsolete equipment, materials, and supplies no longer required to accomplish the objectives of the school.
Disposal of such items shall be the responsibility of the Head of School or his/her designee after it is assured that they are no longer of any use to the school and after disposal, if necessary, is approved by the Treasurer or Board Chair.
Surplus items shall be classified and disposed of as follows:
1. Items having no resale value - these may be offered without cost to charitable and civic organizations, or disposed of by the most efficient method, without Board approval.
2. Items having resale value -
a) Those having a fair market value of 3,000 € or less may be disposed of by the Head of School or his designee at the most advantageous price by private sale, without advertising and without Board approval.
If a sale would normally be within the authority of the Head of School, but if the proposed buyer is an employee or member of the school community, the Head of School will seek the approval of the Treasurer or the Chair of the Board.
b) Items having a fair market value of more than 3,000 € shall be advertised for sale, upon approval of the Treasurer or Board Chair, in the FIS World and/or in a newspaper and sold to the highest bidder.
All money received from the sale of equipment, materials, or supplies shall be deposited in the funds of the school. Records of the disposal shall be kept.