3 October 1972
From time to time, research equipment acquired through funds from research granting agencies becomes obsolete or redundant for the needs of faculty. A policy to control the orderly disposal of such equipment, and the eventual use of the proceeds from disposal is required.
It is the policy of Lakehead University that the disposal of research equipment, and the use of proceeds from disposal, shall be made upon approval of the appropriate Dean, subject to the following guidelines.
1. The disposal of surplus research equipment must conform to regular University procedures.
2. Proceeds from sales must be credited to an account of the academic unit responsible for the sale. Normally, the proceeds will be used for research equipment acquisition, but on occasion, the proceeds may be used for other research purposes.
3. Unspent funds from disposal may be carried over at fiscal year-end.
The Vice-President (Administration) will review this policy within five years to ascertain if any amendments are necessary.