Office of Origin Purchasing
Responsibility: Manager, Purchasing & Risk Management
Original Date Adopted: 10-26-93
Dates Reviewed: 8-16-12, 6-29-20, 10-9-24 (C)
Last Date Board Approved: 12-10-24

If a Lake Michigan College (College) asset is no longer useful or damaged beyond repair, a Sale/Disposal of College Property Form must be completed and approved by the budget manager. Additional approvals are required based on item value, as follows:

• $1,000 to $49,999 – CFO
• $50,000+ – President

For assets purchased using grant funds, the sale/disposal must be handled in accordance with the grant requirements.

If a donated asset valued at more than $500 is disposed of within 2 years of when received, IRS Form 8282 Donee Information Return must be completed.

If the asset is still usable, a notice may be put on the employee portal to see if it can be used elsewhere. If no interest is shown, it should be sold or disposed of.

Usable assets valued at $500 - $49,999 should be advertised for sale. Bids should be solicited for assets valued at $5,000+. If an asset is too large to store, it may be sold in short order using only local advertising.

The area disposing of the asset will get 25% of the net proceeds if the asset is sold. Proceeds must be spent within the fiscal year sold.

Damaged asset should be recycled if at all possible instead of being thrown away. Usable asset that aren’t sold or used elsewhere in the College should be donated if at all possible instead of being thrown away.

All completed/approved forms must be sent to Purchasing Manager so the fixed asset inventory records can be adjusted.

Technology Assets
Technology assets are considered computer/technology equipment or peripheral devices, including computers, servers, hard drives, laptops, smartphones, handheld computers, peripherals, printers, scanners, compact and floppy disks, portable storage devices, backup tapes, and other technical hardware that may store information.

When technology assets have reached the end of their useful life, the IT Department must be notified. IT will then securely destroy or erase all storage media in accordance with current industry best practices to meet the Center for Internet Security methods of media sanitization. An electronic recycling area is located within the service desk area where IT will store recyclable hardware before removing all data prior to final disposal.

All electronic drives must be degaussed or overwritten with a commercially available disk cleaning program, or physically destroyed if degaussing is not possible.

To maintain data security, computer hardware will not be available for donation or resale. Instead, all such equipment will be recycled through an electronic waste facility to ensure that no sensitive data is compromised.

References: CIS Critical Security Control 3: Data Protection, CIS Sanitization Secure Disposal Standard