City Surplus Auction Brings in $611,000

City Surplus Auction Brings in $611,000

The City of Tulsa’s surplus property auction brought in $611,280, the third-highest amount brought in at a City surplus action to date.

The auction also had 894 registered bidders; the second-highest number of bidders to date.

While most of the surplus property items sold were from the City of Tulsa’s inventory, the sale also included surplus vehicles from the Metropolitan Tulsa Transit Authority, which netted $37,862, and $11,794 worth of surplus equipment from the Oklahoma State University Medical School in Tulsa.

All but about $30,000 has been collected from the buyers so far.

Most of the money from the sales of surplus property items goes into the City’s general fund which pays for most day-to-day operations. Some items sold were originally purchased by “enterprise funds” like those collected in user fees for water and sewer services. Proceeds from sales of those items are returned to the enterprise funds.

The City of Tulsa Finance Department Purchasing Division, which oversees surplus property sales, also sold surplus helicopter parts last week in a sealed-bid sale and brought in $51,999.

The City of Tulsa stages two surplus property auctions each year. The next regularly scheduled auction will be in November.

Updated 05-17-2011

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