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Surplus 101

Surplus 101. Surplus 101. Stardock - Fence. Rules & regs. Here’s the basics. Definition of surplus. The accounting and ethical disposal of government-owned property. No longer being used by the Entity; Out-of-date; Damaged; The useful life span has expired; or

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Surplus 101

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  1. Surplus 101 Surplus 101

  2. Stardock - Fence

  3. Rules & regs Here’s the basics

  4. Definition of surplus The accounting and ethical disposal of government-owned property. No longer being used by the Entity; Out-of-date; Damaged; The useful life span has expired; or Taking up space in your storage/work area

  5. Administrative Code: R33-26-200Disposition of State-Owned Surplus Property Items. (2) Disposition of State-owned surplus property items shall be through the following methods: (a) Online auction; (b) Live auction; (c) Pick up, sale, and disposal; (d) Disposal; (e) Destruction; (f) Direct sale to the public; (g) Donation to a public school or state administered program; or (h) Another method approved by the director of the divisions.

  6. 63A-2-411. Disposal of state surplus property with minimal value (1) … "item of minimal value" means an item of property that: (a) (i) had an initial purchase price of less than $100; and (ii) does not appreciate in value; or (b) the surplus property program administrator determines to be worth less than $100.

  7. For more information please refer to the following: • Review State Code Title • 63G –Chapter 2; • Review Administrative Code • R33-26; & • Your own Agency’s Codes, Rules, Policies or Procedures Additional info

  8. How to Surplus

  9. TNT auction

  10. Online surplus sites

  11. Auction vs online TNT Auction Public Surplus Pro: • Easy Con: • Seller pays cut of total sale price Pro: • Total control to set minimum, reserve and time frame • Buyer pays premium to Public Surplus Con: • It takes TIME, ORGANIZATION and PATIENCE.

  12. Auction vs Online Comparison2000 John Deere Gator Utility Vehicle TNT Auction-2018 Public Surplus-2019 Sold for: $2600.00 TNT Receives: $143.00 City Received: $2457.00 Buyer Pays: $2600.00 Sold for: $3674.00 PS Receives:$367.40 City Received: $3674.00 Buyer Pays: $4041.40 Difference of $1217.00

  13. Auction vs Online Comparison2000 Kubota Lawn Mower TNT Auction-2018 Public Surplus-2019 Sold for: $2600.00 TNT Receives: $143.00 City Received: $2457.00 Buyer Pays: $2600.00 Sold for: $2700.00 PS Receives: $270.00 City Received: $2700.00 Buyer Pays: $2970.00 Difference of $243.00

  14. read

  15. Make it work for you

  16. Inventory • Employees are your best resource • Create a LOG and tracking system • Details are important. Have them send you pictures & information about surplus in their area • Communicate • Share information with your agency • Consult with Department to help establish selling price & start researching average prices and reserve prices • Think about who can benefit from the item(s)

  17. Plan to Action • Decide where to sale • Determine a minimum and reserve price (if necessary) • Update LOG and tracking system After the Auction

  18. The log

  19. Plan to Action • Decide where to sale • Determine a minimum and reserve price (if necessary) • Update LOG and tracking system • After the Auction • Notify your agency • Relist • Donate • Dispose

  20. Words of advice…

  21. Be Prepared: • For employees to ask to take stuff home • For buyers to ask if you ship • For buyers to not follow through • Keep learning • Educate your employees • Research the market • Be prepared to Relist!

  22. Block a Buyer

  23. Know what you have

  24. Don’t be a headline

  25. Continue to learn & educate your agency “No abandoned, obsolete, out-of-date City property/equipment can be taken home and used for personal use without going through a formal surplus process first. If you are interested in any City property, please bid on it at www.publicsurplus.com once it’s been classified as surplus.”

  26. Public surplus The App

  27. Questions?

  28. All the queen’s horses NETFLIX - All the Queen’s Horses - As city comptroller of Dixon, IL, Rita Crundwell stole $53 million of public funds across 20 years––making her the perpetrator of the largest case of municipal fraud in American history. She used the funds to build one of the nation's leading quarter horse breeding empires, all while forcing staff cuts, police budget slashing, and neglect of public infrastructure. ALL THE QUEEN'S HORSES investigates her crime, her lavish lifestyle and the small town she left in her wake. https://www.allthequeenshorsesfilm.com/trailer

  29. Thank you Special Guest: Zackary Corbett Public Surplus.com PowerPoint presented by: Brooke Smith Murray City Corporation Purchasing Agent & Deputy City Recorder

  30. This is My… “oh, CRAP! I talked too fast slides.”

  31. Trusted site

  32. Current auctions

  33. Find your rep

  34. Tools - Admin

  35. Custom reports

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