Sale or Disposal of Library Property Policy
Whenever Schaumburg Township District Library property is determined to be broken, obsolete, beyond its useful life, or no longer necessary or useful for Library purposes, it shall be either sold or disposed of pursuant to State Statute (75 ILCS 16/30-55.30). No Library real or personal property shall be sold or disposed of without prior authorization from the Library Board through passage of a resolution declaring said property to be no longer necessary or useful for Library purposes. Disposal of supplies and consumables do not fall under this requirement.
Library staff shall strive to sell all surplus Library property at its true current fair market value. If it is not economically prudent to sell the asset, or if no willing buyer is found, the property can be disposed of. The Library Director shall prepare a written administrative procedure document on the sale or disposal of Library property.
Neither Library Board members, employees, nor their families or friends, shall be given or sold Library property unless said property is obtained through a competitive sale process. Employees involved in the competitive sales process shall be prohibited from submitting a bid or offer. Library Trustees and employees shall not be allowed to participate in the negotiated sale of any Library personal property, or the sealed bid sale of Library real estate property.
The Library Director is authorized to sell or dispose of Library materials (print and non-print), obtained through either purchased or donation, which he or she determines to no longer be useful or appropriate for inclusion in the Library’s collection. It is not necessary for the Library Director to bring the list of materials to be sold or disposed of to the Library Board for approval.
Proceeds from the sale of Library materials shall be recorded as revenue, and earmarked for Art and Special Project purposes. Proceeds from the first book sale of each calendar year shall instead be earmarked for either the employee picnic or holiday dinner being held that year.
Process for Sale or Disposal of Library Personal Property
For property declared surplus by the Board with a true current fair market value of less than $1,000, the Library Director shall have the authority to dispose or sell any Library property as he or she sees to be in the Library’s best interest, provided the provisions of this policy statement are adhered to.
For property declared surplus by the Board with a current unit value of $1,000 to $2,499, the Library Director shall attempt to sell said property through a competitive process by posting the notice of sale at the central library and both branch libraries. The Library Director is also to consider any other means of obtaining the best price possible for the property, such as advertising in the local newspaper, or on-line auction houses such as eBay or craigslist.
For property declared surplus by the Board with a current unit value of $2,500 or more, the Library Director shall sell such property through an advertised sealed bid process pursuant to Statute.
When it is perceived to be in the best interest of the Library, the Library Director may request that the Library Board authorize the trade-in of equipment or vehicles when similar property is being purchased.
Sale of Library Real Estate Property
Any land and buildings declared surplus by the Library Board are to be sold through a formal bidding process only after receiving a Member of the Appraisal Institute (MAI) certified appraisal of the value. The Library Board must approve the final sale once bid results are received.
Approved by the Schaumburg Township District Library Board of Trustees on March 17, 2014.