ANNUAL AUDIT REPORT - Laserfiche WebLink

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2) Sale by Bid: Equipment Assets, Excess Personal Property, and Scrap Materials with an estimated market value exceeding $500 shall be advertised and sold to the highest responsive bidder. Bids must be in a marked, sealed envelope, include a 10 -percent -of -bid deposit, and be received at the designated location prior to the date and time specified for the bid opening. B. Trade-in/Return to Vendor: Equipment Assets, Excess Personal Property, and Scrap Materials may be exchanged as a trade-in on the purchase of new or replacement Equipment Assets, Excess Personal Property, and Scrap Materials or may be returned to a vendor as buy back or for credit. C. Joint Sale of Equipment Assets, Excess Personal Property, and Scrap Materials: When advantageous, the District may join with one or more public agencies in the advertising and conducting of a public auction providing the conduct of sale is not in conflict with the provisions of this policy. D. Sale to Local Government Agencies: When advantageous, the District may sell the Equipment Assets, Excess Personal Property, and Scrap Materials to local government agencies (e. g. Conejo Valley Unified School District, City of Thousand Oaks, Rancho Simi Recreation and Park District, Pleasant Valley Recreation and Park District). The sale price to local government agencies shall be Salvage Value and up to a 10% discount. E. Other: If, in the best interest of the District as determined by the General Manager or his representative, the Equipment Assets, Excess Personal Property, and Scrap Materials may be: 1) "cannibalized" for parts 2) donated to another public agency or to a recognized non-profit organization 3) disposed of by destroying or transfer to a public dump site. Disposition by destroying or transfer to a public dump site will be witnessed and certified to by at least two designated employees not responsible for the maintenance of personal property inventory or property disposal account records. F. Administrative: The District shall retain supporting documentation for disposition of Equipment Assets; additionally, the District shall retain supporting documentation for any proceeds received for the disposal of Equipment Assets, Excess Personal Property, and Scrap Materials. 1) Proceeds from the sale, trade-in, or buy back of Equipment Assets, Excess Personal Property, and Scrap Materials shall be deposited in the treasury of the district. 3 1/5/2021