Retiring Property

When University property is no longer needed, departments are responsible for following U-M
SPG 520.01 Acquisition, Use and Disposition of Property (Exclusive of Real Property)
. All
disposals or sales of university personal property and scrap material are handled through
Property Disposition. The University does not donate equipment.

Financial Operation’s policy states that personal property will only be retired in the Asset Management system when it has been sold, transferred to another institution, destroyed, or
scrapped. Supporting documentation is required for any addition or deletion of university
personal property in the Asset Management system. These documents include but are not
limited to:
     ● Declaration of Surplus form
     ● Clearance Memo

Disposing of or transferring Hospital assets requires additional consideration. See Guidelines for Hospital Assets.