Public Auctions & Sealed Bids
Policy Number: 5.2.12-P
Current Effective Date: 10/04/2018
Original Effective Date: 11/01/2006
Revision Dates: 11/01/2006, 07/01/2010 08/28/2018
Revision Number: 3
Responsible Official: Director of Asset Management
To outline the guidelines regarding the sale of surplus via public auction and sealed bids.
This procedure applies to all KCTCS colleges, the Kentucky Fire Commission, and Kentucky Board of Emergency Medical Services.
The Office of Facilities Support Services, Asset Management Office (AMO) has the responsibility for managing and coordinating public auctions and sealed bids for KCTCS and is the granting authority for auctions held on KCTCS property.
4. On-Campus Auctions
After consultation with the College, the AMO will contact the auctioneer on contract to perform the auction and set the date, location, and time of the auction.
The AMO will provide staff to assist with advertising:
The AMO will assist with sorting surplus items, assigning lot number writers for processing winning bids, registration and tabulation, and title and vehicle transfer, if applicable.
Only cash or certified checks are acceptable forms of payment for auctions.
- Any exception to these payment methods (e.g., personal check) is the sole responsibility of the College.
- Colleges selling surplus items will assume full responsibility for collection if personal checks are accepted and returned for insufficient funds.
- The College is responsible for collecting the payment and depositing the sale proceeds in a pre-determined revenue account string.
Only bidders providing a copy of a tax-exempt certificate at the time of the auction will be valid for tax exemption.
5. Online Auctions
KCTCS utilizes Govdeals.com for online public auctions.
Only the AMO has online access to post surplus equipment to GovDeals.
A GovDeals inspection form must be submitted to the AMO along with photos of the surplus equipment.
For purposes avoiding any appearance of conflict of interest, the College contact for the sale may not bid on the item being sold.
6. Sealed Bids
The AMO shall conduct the sealed bid process by placing the newspaper and/or online.
Advertisements, sealed bid packages (which include all needed forms), opening the sealed bids, and informing the highest and best bidder of the bid award.
The college is responsible for collecting the payment.
- The college shall deposit the sale proceeds in a pre-determined revenue account string.
- Bidders must provide a copy of a tax-exempt certificate before sales tax will be removed.