Fixed Assets is responsible for tracking and disposing of state property in accordance with North Carolina State Policies and Procedures. All equipment and supplies purchased with University funds are the property of Winston-Salem State University and the State of NC (regardless of funding source) until the appropriate approvals and disposition processes are followed. In most circumstances, an item would be declared surplus when both the user and the department head have determined that a particular piece of equipment and/or furniture has met its useful life and, as such, offers no further value to the university beyond salvage worth.
Definition of Surplus Property - Surplus property is supplies or equipment which are obsolete, damaged, unusable or in excess of need. This includes all tangible assets with the exception of real property.