All University property that is determined to be excess, unwanted, or can no longer be utilized by a department is eligible for direct transfer to other campus departments or must be transferred to Surplus Property.

The Fixed Assets and Surplus Property staff is responsible for managing the University's fixed assets, which includes land, buildings, improvements other than buildings, construction in progress, and equipment. Methods for obtaining and transferring surplus property.

In rare instances when a piece of equipment is expected to be traded in, through a solicitation process for new equipment, the release for the trade in must first be approved by Surplus Property.