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Assets Valued Over $1,000
The Director of Administrative Services, the Procurement Manager or designee shall advertise
the sale through appropriate public notice through a formal bid.
Public notice shall:
• Be posted for a minimum of fifteen (15) calendar days;
• Be advertised through appropriate public media, newspaper or electronic platforms;
• Be made available to interested purchasers.
Bids shall be publicly opened at the advertised date and time. A bid tabulation shall be prepared
and maintained as part of the permanent disposition file.
VIII. Approval
Prior to disposition, the Executive Director shall review, approve/disapprove the disposition
documentation that includes:
• Description of each asset;
• Asset identification number or serial number, if applicable;
• Original department, project, or program;
• Recommended method of disposition (i.e. donated to non-profit, discarded without value,
salvage value, or with fair market value);
• Estimated fair market value;
• Documentation supporting the valuation;
• Total estimated value of all assets included in the request.
IX. Disposal Documentation
Prior to disposal, the Executive Director or designee shall verify:
• Fair market value has been documented;
• All required records have been completed.
Following disposition:
• A receipt, bill of sale, transfer document, or disposal certification shall be prepared.
• Sale proceeds shall be immediately forwarded to the Finance Department.
• Finance shall verify the transaction against the approved request
• Revenue shall be credited to the appropriate fund, grant, project, or department, as
applicable.
• Fixed asset records shall be updated to remove disposed property.
• Supporting documentation shall be retained in accordance with the NNRHA’s records
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