(See also Real Property Acquisition)

Fixed assets will include but not be limited to real property, transportation equipment, furniture, instructional equipment, business equipment, maintenance equipment and books.

Disposition of Real Property

Real property shall be conveyed pursuant to a public sale, public bid, or private sale. Prior to the sale of any real property, the Board of Education shall have the real property appraised. The appraisal shall be confidential until the real property is sold. When the real property is sold, the Board of Education shall make the appraisal available for public inspection. Prior to the conveyance of any real property by private sale, the Board of Education shall have offered the real property for sale by public sale or public bid. Any conveyance of real property by private sale to a non-profit organization, association, or corporation to be used for public purposes, unless for exchange, shall contain a reversionary clause which returns the real property to the Board of Education upon the cessation of the use without profit or for public purposes by the purchaser or the assigns of the purchaser. (See OS, Title 70, Section 5-117)

Furniture, Books, and Equipment

Furniture, books, and equipment will be declared surplus because of obsolescence or physical condition by a site principal, building principal or supervisor of a department. Books, furniture and all equipment other than transportation or maintenance equipment will be delivered to the warehouse. The director of the warehouse will determine the best method of disposing of the asset-sold, exchanged, traded-in, donated to non-profit organization or other government entity, or recycled. Sales may be in the form of public auction, garage sales, sealed bids, or direct sales.

Revised by the Board of Education June 1998