Waterloo Inventory Disposal Page

Board Approved Inventory Disposal:

Disposal of School-Owned Propery - BOE Policy 9.24 - Adopted 10/11/07

Board-owned property may be disposed of through several means including sale, trade-in, loss by theft, etc. All disposals by any means must be reported to the Treasurer’s office.

Pursuant to O.R.C. §3313.41, an asset to be disposed of by sale, which has a current value in excess of $10,000, must be sold at an auction. Before the property may be sold, the Board must declare the property as being no longer needed for school purposes. The Treasurer’s office shall be informed of such auctions and shall be provided with a full report and accounting of all assets disposed of All sale or trade-in of. Assets, regardless of value, must have prior written approval of the Treasurer’s office.

For the disposal of property, which is valued at less than $10,000, the Superintendent is required to follow these procedures:

A. The Superintendent shall determine that the value of the property is less than $10,000. The property shall be valued pursuant to a reasonable method as

determined by the Superintendent.

B. The Board of Education shall adopt a resolution declaring that the real or personal

property is no longer needed for school purposes, that the sale serves the public interest, that the value of the property is less than $10,000, and directing that the property be sold.

C. The Superintendent shall sell the property by bids, general sale, negotiated sale,

by trade, or through publicly accessible Internet auctions, such as Ebay, as determined by the Superintendent or the Board on an individual basis.