Final Approval Body: Vice Principal, Finance and Administration
Senior Administrative Position with Responsibility for Procedure: Vice Principal, Finance and Administration
Date Initially Approved: January 12, 2015
Date of Last Revision, if applicable: June, 2026
Purpose
This procedure describes how to dispose of Moveable Assets at the university. Moveable Assets are defined in the Tracking Moveable Assets Policy.
Responsibilities
Strategic Procurement Services
The Director, Strategic Procurement Services, or their delegate has the responsibility for approving the disposal of Moveable University Assets (鈥淢oveable Assets鈥), and retaining approvals for auditing purposes, if required.
Department(s)
Any department (鈥渢he Department鈥) that possesses a Moveable Asset and has determined that the Moveable Asset should be disposed of, is responsible for:
- Disposing of the Moveable Asset in accordance with this procedure.
- Obtaining the authorization of the Department Head or their delegate on all requests under this procedure.
- Obtaining the authorization of both or all Department Heads or their delegates where a Moveable Asset is jointly owned by two or more departments.
Procedure
| Requirement | Responsibility | |
|---|---|---|
| Core Requirements for All Disposal Requests: | ||
| 1.0 | Identify Moveable Asset as surplus. | Department |
| 2.0 | Review Appendix A of this Procedure document to plan for any additional steps that may be required when disposing of the Moveable Asset. | Department |
| 3.0 | Determine and document current market value of the Moveable Asset through a market assessment. Acceptable market assessments would be a written valuation from the manufacturer/distributor on current value, for vehicles, or sites specializing in valuation of used lab equipment in Canada (for example: , ). | Department |
| 4.0 | Prepare an email request for approval to dispose of a Moveable Asset to be sent to Strategic Procurement Services. The email request should contain the following:
| Department |
| 5.0 | Submit to the Director, Strategic Procurement Services or delegate for review and approval. | Department |
| 5.1 | If the Moveable Asset was purchased with research funds, the Director, Strategic Procurement Services or delegate will obtain authorization from Research Accounting to dispose of Moveable Asset prior to approving request. Research Accounting will assess and advise of any restrictions regarding the disposal of the Moveable Asset based on the related funder鈥檚 guideline. | Strategic Procurement Services |
| 6.0 | Approval will be provided by Strategic Procurement Services, along with any recommended steps in the process. | Strategic Procurement Services & Department |
| 7.0 | Proceed to the applicable instructions based on Planned Disposal Method. 7.1 Transfer Between Departments | Department |
| 7.1 Transfer Between Departments: | ||
| 7.1.1 | Advertise the Moveable Asset for transfer or sale to other university departments through the Facilities Resource Recovery & Sustainability Specialist. | Department |
| 7.1.2 | Provide the Director, Strategic Procurement Services or delegate a copy of the advertisement posting. | Department |
| 7.2 Sale to Third Parties: | ||
| 7.2.1 | Advertise the Moveable Asset for sale. Advertising should be made on a public site such as government surplus websites (e.g. ). | Department |
| 7.2.2 | Arrange for viewings or discussions with potential buyers. | Department |
| 7.2.3 | Select a buyer based on best value obtained for Queen鈥檚. | Department |
| 7.2.4 | For sales greater than $10,000 CAD, provide a summary of offers and the selected buyer to the Director, Strategic Procurement Services or delegate, to ensure that the Department is obtaining market value or close to it. | Department |
| 7.2.4.1 | Director, Strategic Procurement Services or delegate to provide authorization to proceed with sale. | Strategic Procurement Services |
| 7.2.5 | Prepare invoice via the university鈥檚 Accounts Receivable process. Invoice must state 鈥渟old as is鈥 and no Moveable Asset should be released to a buyer until payment has been received. A certified cheque is strongly recommended to ensure funds clear. | Department |
| 7.2.6 | Receive payment from buyer. Record the proceeds of sale for deposit to the original chartfield that funded the purchase of the Moveable Asset using account 460016 - Gain/Loss on Capital Assets. Note for Moveable Assets Purchased through Research Funds: where the originating research project that paid for the equipment is closed, the funds can be deposited to a Special Research Project if the Principal Investigator has such an account. This will be treated as an external cost recovery. If the Principal Investigator does not have eligible projects to accept the sale proceeds, the recommended process is to deposit the funds to the related department鈥檚 operating fund. | Department |
| 7.2.7 | Arrange for pick-up and removal by buyer. | Department |
| 7.2.8 | Provide the Director, Strategic Procurement Services or delegate a copy of the advertisement posting and the bill of sale. | Department |
| 7.3 Disposal as Scrap: | ||
| 7.3.1 | Request the Moveable Asset be disposed of as scrap through the Facilities Resource Recovery & Sustainability Specialist. | Department |
| 8.0 Notification and Updating of Records: | ||
| 8.1 | As part of the annual moveable asset tracking confirmation process, advise Financial Services that the Moveable Asset has been disposed of and that it can be removed from the university鈥檚 asset tracking list. Submissions in this process are coordinated by business officers. Notify business officers to update their records accordingly. | Department |
| 8.2 | Retain a copy of all documentation regarding this request in a departmental shared folder. Documentation could include email request, SPS approval, copy of the advertisement posting and the bill of sale. | Department |
| 8.3 | For Moveable Assets with an original purchase value greater than $100,000 CAD, notify the Insurance & Risk Management department to adjust the insured property schedule. | Department |
Related Policies, Procedures, Guidelines:
Procedures Superseded by this Procedure: N/A
Contact: Director, Strategic Procurement Services
Date for Next Review (five years from initial approval): 2031
Appendix A
Considerations for Disposal of Movable Assets
| Automobiles |
|
| General Furniture |
|
| Information and Communication Technology Equipment and Devices | These items range from smartphones and laptops to computer keyboards and monitors that may contain valuable materials and harmful substances that need to be handled with care.
|
| Lab Equipment |
|
| Scrap Metal |
|