Overview and Rationale
Hive13 maintains a list of documented assets for financial accounting purposes. The list is updated annually in conjunction with preparation of the annual report filed with the office of the Ohio Attorney General.
This process addresses the disposal of assets which may may be scrapped or sold and removed from the list.
See also: Donation Policy
- Objective: Get maximum value for the sale of asset. – Return the money to general funds.
- A member may Identify an asset that is no longer useful to Hive13: Redundant, Obsolete, Broken / Unmaintainable.
- Discuss the disposal with the COO to discuss the Item and confirm the disposition.
- Is the asset to be retired owned by Hive13? Or
- Is the asset a long-term Loan? - Offer to return the loaned asset to the owner – Set a date. If the asset is not removed it will be considered a donation.
- For Hive13 owned assets disposal may continue. (Includes Donations and Purchases)
- What is the book value of the asset?
- What is the fair market value of the item? Is it useful to others as a unit?
- Is it salvageable for components, or is it only worth scrap value?
- Does the equipment have any sensitive data that must be protected? If so, wipe the drive.
Disposition and Sale of Assets
- Send low dollar value or warden purchase = expensed items to Purgatory with an up for Grabs tag so that members may repurposing or salvage.
- Disposition of High Value Items with an asset tag -
- Start a thread to discuss the sale of the item.
- Describe the asset – Wiki, photos…
- Condition – Borked, Broken but repairable, Operating…
- Benchmark the asset current value to other items in the open market.
- Set minimum bid value based on consensus benchmark.
- Offer up for bids – eBay and internal
- Submitted Bids go to firstname.lastname@example.org
- Announce the highest daily bid received on the sale thread. The highest takes the lead. Earliest bid of duplicate offers takes the lead.
- Bidding will be open for two weeks, ending at the start of the Tuesday meeting.
- The highest bid is the winner. Payment is required via PayPal or certified funds before the item is removed from the space.
- Removal to take place within a week of the end of the auction.
- If the winner does not pay and remove the machine from the hive, it will be offered to the next highest bidder
After the Asset is Removed from Hive13
- Assure any Hazmat associated with the asset is responsibly disposed.
- Remove the asset from the asset inventory. Recognize the removal of the asset from the Physical Asset valuation.
- Mark the wiki to show the asset is gone.
- Communicate the removal of the asset removal as it affects insurance and state of Ohio requirements to report asset inventory value.