Ollscoil na hireann, Gaillimh

Financial Policy and Procedural Manual

Disposal of Assets and Access to Assets by Third Parties
Version: 1 Replaces ___n/a_____
Approed by! "dar#s na hOllscoile Date! Meitheamh 2008
O/M
$% PO&'()
1.1 It is University policy to ensure adherence to est practice in the disposal o! its assets"
and in controllin# access thereto. In this re#ard" the University reco#nises and adopts
the relevant sections o! the 200$ %overnance o! Irish Universities &ode as representin#
current est practice.
1.2 'he disposal o!" and #rantin# access to" University assets" is #overned y the
Universities (ct 1))$ and in particular y *ections 1+ and ,2 o! that (ct.
1.+ In addition to the relevant statutory provisions o! the 1))$ (ct" the University is
committed to ensurin# that all University-s assets are used in a most e!!ective and
e!!icient manner. .hen such resources ecome surplus to re/uirements" the University
0ill endeavour to dispose o! them in a method that is !air and transparent" and 0hich
ma1imises any possile remainin# value o! the asset.
*% PO&'() O+,-(T'V-.
2.1 'o provide a systematic transparent and accountale method o! monitorin# and
controllin# the disposal o!" and #rantin# access to" University assets" and to protect the
University and its sta!! !rom any con!lict o! interest" either potential or real" 0hich may
arise in relation thereto.
2.2 'o ensure value !or money in the disposal o!" or #rantin# access to" University assets"
and to ma1imise the residual value !rom such disposals" 0here applicale.
/% A0T1OR'T) 2 R-.PO3.'+'&'T)
+.1 dar2s na hOllscoile has overall responsiility !or the custody" sa!e3eepin#" utilisation
access to and disposal o!" University assets. In #eneral these !unctions are dele#ated
throu#h a decentralised structure 0ith responsiility !or assets ein# vested in relevant
O!!icers 4i.e 5eads o! 6epartments/7ud#et 5olders.8 0ho act as custodians" on ehal!
o! the University.
9UI" %al0ay :inancial ;olicy < ;rocedures
Disposal of Assets and Access to Assets by Third Parties contd
+.2 (dherence to ;olicy
5eads o! 6epartments/7ud#et 5olders are responsile !or adherence to this policy in
the disposal/#rantin# access to" all assets re#istered to or located in their Unit. 'hey
must also ensure compliance 0ith any other related relevant *tatutes and %overnment
=e#ulations.
+.+ ;rocess
5eads o! 6epartments/7ud#et 5olders disposin#/#rantin# access to University assets
are responsile !or ensurin# that the process !or sale or disposal/#rantin# access to"
4includin# all measures necessary to ade/uately decommission an asset prior to
disposal8 complies 0ith this policy.
+.+ &osts
5eads o! 6epartments / 7ud#et 5older disposin#/#rantin# access to University assets
are responsile !or all costs incurred in the process" such as transportation costs" auction
!ees" recyclin# !ees etc.
+., 9oti!ication
5eads o! 6epartments / 7ud#et holders are responsile !or noti!yin# the 7ursar>s
O!!ice o! all assets re#istered to or located in their areas 0hich they intend to dispose
o!" or #rant access to.
4% PRO(--D0R-.
,.1 Methods o! 6isposal o! (ssets
'he principal methods o! disposal are !ollo0s:
a8 outri#ht sale
8 auction y a contracted auctioneer
c8 scrap ? to a licensed dealer
d8 recycle ? to an authorised a#ency
e8 trade in ? to supplier a#ainst replacement items
!8 donation to re#istered charities or community or#anisations
,.2 Methods o! %rantin# (ccess to (ssets
'he principal methods o! #rantin# access are !ollo0s:
a8 lease a#reement
8 rent a#reement
c8 license a#reement
d8 concession a#reement
e8 option a#reement
9UI" %al0ay :inancial ;olicy < ;rocedures
Disposal of Assets and Access to Assets by Third Parties contd
,.+ ;ro!essional @aluation (dvice
In all cases 0here the anticipated disposal value" or 0here the anticipated value o!
#rantin# access to a University asset is #reater than A$0"000" the relevant 5ead o!
6epartment/7ud#et 5older should otain 0ritten a pro!essional valuation !or the asset
in /uestion.
,., @aluation 'hresholds
4a8 Bess than A1"000
.hilst havin# due re#ard !or the principles o! openness and transparency" the
University reco#nises that in the case o! lo0 value items" 0here the costs o! disposals
e.#. 4advertisin#/administration etc8 are li3ely to e1ceed the proceeds !rom sale" pulic
tender may not e Custi!ied. Occasionally" individual o!!ers may e received !or
osolete e/uipment" includin# o!!ers !rom sta!! memers and connected persons. In the
case o! lo0 value items valued at less than A1"000" the relevant 5ead o!
6epartment/7ud#et 5older responsile !or those assets may a#ree to dispose o! the
item4s8 at their o0n discretion" suCect to noti!yin# the 7ursars O!!ice in 0ritin# o! their
estimated value.
48 A1"001 to A2D"000
.here the anticipated value o! the disposal/#rantin# access transaction is et0een
A1"001 and A2D"000" it may e proceeded 0ith" upon otainin# the relevant U.M.'.
memer>s a#reement to the transaction in 0ritin# 4or y email8" and y advertisin# the
sale/access in the pulic domain" e.#. local press and internet. 'he transaction should e
open and transparent and at least three o!!ers in 0ritin# to ac/uire the asset/access
ri#hts should e procured.
4c8 A2D"001 to A$0"000
.here the anticipated value o! the disposal/#rantin# access transaction is et0een
A2D"001 and A$0"000" it may e proceeded 0ith" upon otainin# the 7ursar>s o!!ice
a#reement to the transaction in 0ritin# 4or y email8" and y advertisin# the sale/access
in the pulic domain" e.#. local press and internet. 'he transaction should e open and
transparent and at least three o!!ers in 0ritin# to ac/uire the asset/access ri#hts should
e procured.
4d8 %reater than A$0"001
E1cept in e1ceptional circumstances 4see elo08" 0here the anticipated value o! the
disposal/#rantin# access transaction is #reater than A$0"001" the 5ead o!
6epartment/7ud#et holder shall noti!y the 7ursar>s o!!ice" 0ho may tale the proposal
at the ne1t :.=.&. Upon otainin# 7ursar>s o!!ice approval" the 7ud#et shall or#anise
the disposal/#rantin# access y 0ay o! auction or competitive tenderin# process.
E1ceptional circumstances could include a sale to a charitale ody or 0here the
University elieves that competitive tenderin# is not appropriate due to the sensitive
nature o! particular arran#ements in respect o! research collaorations" Coint ventures
0ith industry or other e1ternal parties or in respect o! arran#ements 0here Intellectual
;roperty may e rou#ht to the university. In the e1ceptional event o! this procedure
not ein# !ollo0ed" dar2s 4%overnin# (uthority8 approval must e sou#ht. In all
9UI" %al0ay :inancial ;olicy < ;rocedures
Disposal of Assets and Access to Assets by Third Parties contd
cases" the method used should e oth transparent and li3ely to achieve a !air mar3et?
related price.
,.D .here hi#hest auction/tender id not accepted
In all cases 0here auction/pulic tender ta3es place 4anticipated value is #reater than
A$0"0018 and it is proposed not to accept the hi#hest id" speci!ic dar2s 4%overnin#
(uthority8 approval 0ill e re/uired e!ore the transaction is completed. 5eads o!
6epartment/7ud#et 5olders plannin# to dispose o!" or #rant access to University assets
y auction" must use a University appointed (uctioneer.
,.F *a!ety and .aste issues
University assets disposed o!" 0ill e classi!ied as such in the University>s !i1ed asset
re#ister. 6an#erous parts 0ill e removed !rom machines deemed to e unsa!e. &osts o!
disposal and/or recyclin# 0ill e orne y the disposin# department/unit. .here
possile the University 0ill cover the cost y usin# the scheme 4.EEE/;=: .aste
Electrical and Electronic E/uipment 6irective/;roducer =ecyclin# :und8 to minimise
or eliminate this cost.
,.$ 6ecommissionin# o! (ssets ;rior to 6isposal
(ll assets must e ade/uately decommissioned prior to sale or other disposal. *uch
decommissionin# may involve deletin# !iles and pro#rams !rom computer hard drives
0ith particular attention to potentially sensitive !iles and other in!ormation or pro#rams
licensed to the University" and/or ensurin# that assets are completely sa!e and
uncontaminated" 0ith all potentially haGardous materials or sustances removed or
made sa!e in accordance 0ith current 5ealth and *a!ety #uidelines e!ore e1posure to
the pulic.
,.8 &on!lict o! Interest
5eads o! departments" service/research centres" o!!ices" etc" nominated responsile
o!!icers and nominated destruction 0itnesses must ensure that no con!lict o! interest
occurs in" or as a result o!" asset disposals" or #rantin# access to University assets.
,.) (udit o! (sset 6isposal/%rantin# (ccess ;rocess
(ll disposals/#rantin# access 0ill e suCect to random audit chec3s. (ll relevant
documentation includin# a copy o! the 6isposal/'rans!er o! (sset :orm must e
retained y the 6epartment/7ud#et 5older" etc and made readily availale !or scrutiny
y auditors.
,.10 Income !rom 6isposal o!" and/or #rantin# access to University assets
Income derived !rom the disposal o! and/or #rantin# access to University assets must e
receipted immediately" 0ith the income ein# accounted !or as central !unds o! the
University" unless other 0ise y prior 0ritten arran#ement 0ith the 7ursar>s o!!ice.
'he 6isposal/'rans!er o! (sset :orm must include the receipt numer 0hen monies are
received !rom the disposal o! the assets.
.ti5rth6ir (untasaiochta Air7eadais
Meitheamh *889
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