Scrap and Salvage Proceeds

Public entities may at times receive money from the sale of scrap or other salvaged materials. This money is not “found” money that can simply be retained and spent by the department that controls the materials. Instead, the money must be treated like other public funds and promptly turned over to the public entity for deposit and entry into the accounting system.

Date this Avoiding Pitfall was most recently published: 10/25/2019