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Finance committee hears how proceeds from surplus property and vehicle sales are handled
Summary
Members asked where proceeds from surplus property and vehicle sales go. General Services staff said proceeds generally remain with the owning agency or the facilities revolving fund, while the surplus division retains a portion to cover sale operations.
Chairman Hawk asked how proceeds from the sale of surplus buildings, vehicles and equipment are recorded in the budget and what agencies may spend those funds on.
Bob Williams, a General Services staff member, said treatment of proceeds depends on jurisdiction and any restrictions on a particular property. "As with as it pertains to real property, real estate, kinda depends on who has jurisdiction of that property and any restrictions that…
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