Asset Removal Policy

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Purpose

This policy allows area hosts to remove equipment from the space for the purpose of improving a particular area and to the benefit of the membership's usage of the space. This policy seeks to compliment the Tidy Space Policy and Conflict of interest policy while providing a clear guideline for accounting and asset management.

Language

This policy process below applies to any Pumping Station:One asset that is valued at over $50. For items less than $50 in value the appropriate removal is left to the discretion of the area host. Appropriate actions will be determined based on the fair market values assessed for that item. The treasurer should be contacted to assess current book value and document assets marked for removal. For the purpose of the policy removal can mean donation, sale, or disposal.

All assets must be verified as property of Pumping Station:One. If the asset does not belong to Pumping Station:One then it is subject to the Tidy Space Policy only.

Only the area hosts of the area where that item belongs, or the majority of the board of directors, may remove a Pumping Station:One assets. TidySpace deputies, volunteer authorizers, regular members are not eligible to remove Pumping Station:One owned assets.

Process for asset removal

The following process will be followed after the asset is verified as a Pumping Station:One asset and has been assessed for its current depreciated book value by the treasurer.

1. Notify the membership of intent to remove the asset
   1. The asset is to be taken offline during the disposal period.
   2. Add an “Asset Disposal” header the the wiki page for the asset on the Wiki. This header automatically adds the asset to the “Assets for Removal” category.
   3. Make the intentions explicit; include information about how the asset will be disposed of. If this includes selling the asset, include that on the page and include the intended sale price.
   4. Include a list of places that will accept donations or may be in need of the equipment. Make an effort to contact these places.
   5. Notify the membership of the intention to dispose of the asset via the members private mailing list.
   6. Inform the board for announcement by sending an email to info@ and treasurer@ emails.
   7. If a member disagrees with the disposal of the asset, they must immediately announce a vote to block the disposal, while this vote is in progress the asset may not be disposed of. Vote must meet quorum and pass with a yes majority to block the disposal otherwise the disposal may proceed as planned.

Either of the following Donate or Sell options may be chosen for asset disposal at the discretion of the area host or board.

1. Choose one of the following methods for asset removal:

• 1. • Donate: There must be an attempt to donate to hackerspaces, makerspaces or other 501(c)3 institutions.

The receiving institution must be a 501(c)3 for tax reasons, if they are not then the equipment must be sold to them. The institute receiving the equipment must agree to cover shipping costs for the asset unless the area host or board is willing to arrange transport at zero cost to Pumping Station:One. The board must be provided a proof of delivery receipt, signed by a board member of the receiving institution.

• 1. • Sell: If no 501(c)3 institution wants the equipment and it is worth selling, attempt to sell the equipment.

Pricing will be set by the area host and must be verified by the board.

• 1. • Items may be sold by the following methods:

1. 1. 1. Public auction via eBay or similar
      2. Private auction
      3. Raffled as a fundraiser for Pumping Station:One

If the item fails to both be donated and sell it should be placed in Limbo with an Asset Disposal tag, the wiki page for that item must be updated with a “Item Removed” tag and the treasure. The Asset Disposal wiki page for the item should be updated to indicate what happened to the item, and the original notification email in RT should be updated to reflect the resolution.

Asset Disposal Action - Wiki Page Requirements: Link to item wiki page Who is sponsoring Date published to the groups Treasurer approved and reviewed Asset value Suggested method of disposal Background Resolution of disposal

Asset Disposal Tag What is it? (wiki-able) Asset Value Resolution of disposal