ASTM E2306-11

Continuing emphasis by interested stakeholders demands that an entity dispose of surplus assets in the most economical and efficient manner possible.

An efficient personal property reutilization and disposal program should be done in a manner consistent with the entity’s goals and objectives.

1.1 This practice encompasses the disposal of surplus personal property and how surplus property is donated, sold, recycled, abandoned, or destroyed.

1.2 Disposal is the final step in the final phase of the Personal Property Management Cycle. Until the disposal action occurs and is properly documented, the property remains on an entity’s property and financial records and therefore subject to costly cyclic inventories.

1.3 This standard does not include specific requirements for the classification of or the disposal of scrap items or materials.

1.4 This standard does not include specific governmental disposal requirements, or environmental, or security regulations. However, this standard enables an entity to align or integrate those requirements into its own procedures.