A review of the key property management life cycle process and roles should provide background for how decisions about surplus property are made.

1. Property Management Life Cycle
   1. Needs assessment and requirements definition: What do we need?
   2. Procurement: Did we acquire the best value for the need?
   3. Utilization and property tracking: Are we using it efficiently?
   4. Disposal: What is the best manner of disposal?
2. Property Roles of the State and State Agencies
   1. State’s property role: All property purchased by or donated to the State, regardless of the funding source is
      owned by the State. As the owner, the State has final decision-making authority over all property management aspects, especially procurement and disposal. (Ownership is defined as “having a legal, rightful title to property.”)
   2. State agencies’ property role: As good stewards of taxpayer funds, all state agencies and employees are responsible and accountable to ensure that state personal property is utilized, tracked, and disposed of in an efficient and effective manner.
3. Surplus Property: The state’s surplus property management process addresses the final step of the property life cycle. Once a state entity no longer has a use for property, DOAS Surplus Property Division is responsible for determining the best utility of that property, which could include inter-entity transfer, sale, or destruction. Understanding key parts of property management helps agencies make informed decisions regarding surplus property.
    

A full glossary is available for this manual, but the key terms for this section are real property, personal property, capital assets, and surplus property.