Financial Policies

CHAPTER 1:

PURCHASING POLICIES AND PROCEDURES

III- DISPOSING OF CAPITAL ASSETS

Following AUI bylaw (Dahir 1-93-227 du 20 September1993), the President is responsible of the protection of University assets. This duty is presently delegated to the VPFA. It means that nobody is allowed to sell or to take out of campus any equipment or part of assets without the VPFA's authorization. The University may decide to sell amortized equipment to AUI community. The procedure for disposing of such equipment should go through the following steps:

1. Establishing a list of amortized equipment by the department concerned
2. The department concerned informs the Purchasing Office (Inventories bureau) to remove this equipment from the inventory lists, to remove the tags and official university seals, and store the said equipment. A memo that describes this operation should be signed by both the department head to whom the equipment belongs and the Director of purchasing (quitus).
3. A four member committee (one person from the department to whom the equipment belongs, the Director of the purchasing services, and two persons designated by VPFA) will estimate the market-value of the amortized equipment.
4. The Purchasing Office should communicate to the University community the decision to sell this equipment by providing:
   • A brief description of the item
   • Condition of the item
   • Quantity of the Item
   • The estimated market value
   • Reason for disposal
5. Give the possibility to personnel to see these items
6. Interested people should send bids to purchasing department within 10 days after the Purchasing Office communication. Members of the committee mentioned in article 3 are not allowed to buy any of the said equipment.
7. The committee mentioned in article 3 will meet to decide who will acquire this equipment. In general, items will be sold to the highest bidder. A list of selected buyers with the approved prices will be posted
8. Payment for this equipment should be done at the Business Office
9. No equipment can be moved outside the University without a written and signed authorization from the VPFA.
10. If the University decides to extend the opportunity to buy the amortized equipment to the public, then article 4 is modified as follows: “The Purchasing Office should communicate through advertisement in at least 2 newspapers the decision to sell this equipment by providing:
    • A brief description of the items
    • Condition of the items
    • Quantity of the Items
    • Reason for disposal.