Cal Overstock & Surplus returns net sales proceeds to the departments originating the surplus property. In fiscal year 2010-2011, Cal Overstock & Surplus returned $782,267 net revenue to campus departments. Net proceeds are those revenues in excess of Overstock and Surpus' annual operation expenses. When items are sent to Cal Overstock & Surplus for disposal, it identifies the originator of inventorial assets (those of $5,000 acquisition value) through the Berkeley Equipment Tracking System (BETS). However, it is frequently unable to identify the originator of non-inventorial assets (those of $5,000 acquisition value) sent for disposal.
To be eligible for revenue sharing on a non-inventorial asset:
- Affix a BETS-generated property number (tag) to those items being disposed of when you send it to Cal Overstock & Surplus for disposal, so that we can track the item and any associated revenue-sharing back to your department.
- Since you are already requesting the pick-up of surplus property via BETS, we encourage you to use the BETS non-inventorial module to generate the property number and affix the tag to the item.
If you are not interested in qualifying for revenue sharing for a particular item, you can continue to request disposal without affixing a property number tag to the non-inventorial item.
General guidelines on how the process works: Cal Overstock & Surplus processes sales proceeds in accordance with the applicable provisions of Business and Finance Bulletins BUS-49, "Cashiering Responsibilities and Guidelines," and A-51, "Application of Proceeds from the Sale, Trade-In or Transfer of University Property.”
Current revenue sharing thresholds for eligible items sold:
- Any individual piece of equipment or vehicle for $1,500 or more that has a property number
Within 30 days after Cal Overstock & Surplus completes the processing of the sale, the originating department will receive 80% of the net proceeds of that item.
- Any item (with a property number) valued at $200 or more
The originating department will receive 80% of the net proceeds of that item at the end of the fiscal year in excess of Cal Overstock & Surplus' annual operating costs.
Eighty percent of all other net sales proceeds for items (that cannot be attributed to a disposing department) are forwarded to the campus discretionary fund at the end of the fiscal year in excess of Cal Overstock & Surplus' annual operating costs.
Frequently Asked Questions:
Why are the net proceeds only shared once a year?
- Departments are not charged for these services.
- The expense for these services is offset through sales proceeds from the surplus campus goods.
- Many departments use the services of Cal Overstock & Surplus repeatedly throughout the year.
- At times, the cost of processing and selling surplus items exceeds the revenue from its sale.
How are the net proceeds distributed back to Departments?
Net proceeds are returned to departments by:
- processing a temporary budget journal via BFS
- crediting the department's UCB revenue account 47150
- using Cal Overstock & Surplus' fund number with the respective departmental org code