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The Finance Department

Sale and Disposal of Equipment

Can a School sell equipment it no longer requires?

Yes.

Does the School keep the income from the sale of equipment?

Yes, the income should be credited to the School’s equipment Cost Centre

Who can authorise the sale of equipment?

Schools/Professional Services Departments staff can sell or part-exchange equipment worth up to £100,000 (per single item or collection) without reference to the Finance and General Purposes Committee subject to following the procedures set out below.  Equipment may be sold at whatever price is considered reasonable by the equipment budget holder in consultation with the Executive Dean, School Manager or Head of Professional Services Department. It should not be sold at a lower price if a higher price can be obtained. 

Disposal of items valued at more than £100,000 requires the consent of FGPC.

The Finance Department must be informed of the sale so that an invoice can be raised. Sales of equipment are subject to VAT which must be borne in mind when agreeing a sales price.

Equipment must be publicly offered for sale through the Birkbeck Bulletin, the London University Purchasing Consortium (LUPC), for Sale/wanted bulletin, or some other suitable forum. 

 

What price should the equipment be sold for?

Equipment may be sold at whatever price is considered reasonable by the person authorising the disposal in consultation with the School Manager, but may not be sold or part-exchanged at a lower price if a higher price can be obtained.

Can Birkbeck employees or students buy the equipment?

Yes, with written consent of the Executive Dean – however, also see above.

What procedure must be followed when selling or disposing of equipment?

The equipment must be publicly offered for sale through the Birkbeck Bulletin, the LUPC or some other suitable forum.

Once a sale has been agreed, the Income Section of the Finance Department must be notified. The Income Section will invoice the purchaser and collect the money. Sale of equipment is VATable and VAT will be added to the disposal price at the standard rate (bear this in mind when negotiating a price).

Who can dispose of equipment?

In addition to the above, disposal of equipment to a member of staff or student of the College may take place with agreement from the Head of Professional Services Department, School Manager, Executive Dean or the Finance Director in the case of a Professional Services Department.

Redundant or obsolete equipment of no further use to the College can be sold as scrap or properly discarded. 

 

Redundant or obsolete equipment

Redundant or obsolete equipment of no further use to the College should be sold as scrap or discarded. If the item has some use, although not to the College, it should be offered for sale and the best price obtained.

When disposing of electrical and electronic equipment please bear in mind the EC Directive on Waste Electrical and Electronic Equipment.

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Finance Department, Birkbeck, University of London, Malet Street, London WC1E 7HX. Departmental Office tel.:  020 7380 3145, fax.: 020 7380 3221