Dn R School Property Disposition

DN-R SCHOOL PROPERTY DISPOSITION Real Property Surplus or abandoned real property of the school district may be sold if the Board of Education determines that ownership of the property no longer meets capital outlay purposes. The property will be advertised in the public for at least 30 days in advance of the sale. Depending upon the value of the property the Board may determine to sell through either an auction process or through a bidding process. The Board reserves the right to reject any or all bids. Revenue received from sale of real property will be deposited as sale of fixed assets in the school district budget. Equipment, Materials, and Supplies Equipment, materials, and supplies which are no longer deemed required to accomplish the purposes of the school district will be considered in a state of a surplus or obsolete condition. Before disposition, a notice that the property is considered surplus will be circulated by the business office to all schools and departments to enable consideration for further use of the property. Subsequently, disposition will take place according to the following procedures. A.

An item whose estimated value exceeds the amount assigned to fixed assets will be presented to the Board for approval of disposition. Following approval, the business manager, or a designee, will advertise a time and place for receipt of bids and assure distribution to the highest bidder. The school district reserves the right to reject any or all bids. B.

Items whose estimated value is less than the amount assigned to fixed assets will be sold to the highest bidder at a previously advertised time and place under the direction of the business manager or a designee. Items will be sold to the highest bidder with the school district reserving the right to reject any or all bids. Items for which no bids are received may be sold after the bid date for fair market value. C. disposed of in manager.

Items which are not sold at the advertised bid and which have no resale value will be offered without cost to charitable or civic organizations, or the most efficient method under the direction of the business

Items considered to be useable and not sold at the time of the bidding shall be retained for sale at the next bid time or until someone offers a bid comparable to that for which a similar item was sold. It is anticipated that at least one disposition sale will occur each year. The proceeds will be deposited in the school district general fund as sale of fixed assets or miscellaneous revenue.

ADOPTED:

September 10, 1992

Lincoln County School District No. 2, Wyoming