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The Director of Administrative Services, the Procurement Manager or designee shall conduct, at
a minimum, an annual review of Authority property, either prior to or in conjunction with the
annual physical inventory, to identify assets that should be declared surplus.
Each item identified shall be evaluated and classified as one of the following:
1. No Value – Property with no remaining useful or salvage value that should be discarded.
2. Salvage Value – Property that should be stripped of usable parts before disposal.
3. Market Value – Property with remaining value that may be sold or traded.
Items classified as having no value or salvage value shall be disposed of in accordance with all
applicable environmental, safety, and regulatory requirements.
VII. Disposition Procedures
A. Determination of Fair Market Value
The Director of Administrative Services, the Procurement Manager or designee shall determine
the estimated fair market value of each asset using one or more of the following:
• Comparable market pricing
• Vendor quotations
• Online resale marketplaces
• Professional appraisal, when appropriate
• Trade-in value
Documentation supporting the valuation shall be retained with the disposition records.
B. Sale Procedures
Disposition methods shall be based upon the estimated fair market value of the asset.
Assets Valued at Less Than $100
The Director of Administrative Services, the Procurement Manager or designee may obtain
informal quotations or otherwise sell the property using commercially reasonable methods
designed to obtain the best available price.
Assets Valued Between $100 and $1,000
The Director of Administrative Services, the Procurement Manager or designee shall solicit
informal bids, either verbally, electronically, or in writing, from prospective purchasers. A
summary of all bids received shall accompany the approval request submitted to the Executive
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