City Of Tulsa Raises Over Half A Million Dollars At Surplus Sale

The City of Tulsa raised $503,000 in an auction of surplus equipment Saturday, placing it well above the average of $382,000 raised at the past 25 surplus auctions.<a href="http://cityoftulsa.org/" target="_blank"></a>

Monday, May 3rd 2010, 2:31 pm

By: News On 6


By Emory Bryan, The News on 6

TULSA, OK -- The City of Tulsa raised $503,000 in an auction of surplus equipment Saturday, placing it well above the average of $382,000 raised at the past 25 surplus auctions.

More than 800 bidders registered, which was also well above the average of 500.

"It was a very strong sale," said Finance Director Mike Kier. The Purchasing Division of the Finance Department conducts surplus auctions each spring and fall.

"These revenues were projected in the current fiscal year budget and will help offset shortfalls in revenues that have occurred in other areas, " Kier said. "The city has over 100 general fund revenue sources and collectively they are close to even with the amended budget. These revenues help bring our general fund into balance."

Proceeds from the sale will go into several city budget funds. Approximately $230,000 will go to the City's General Fund which pays for many of the City's day-to-day operating expenses.

City ordinances dictate that proceeds from sales of vehicles and equipment purchased with Enterprise Funds be returned to those funds. Enterprise Funds are those like the water and sewer funds which are paid by City of Tulsa utility customers for specific services delivered by the City.

5/1/2010 Related story: City Of Tulsa Holds Surplus Auction

The City has raised $790,000 for the General Fund so far this fiscal year with surplus sales. It was projected that surplus auctions would raise only about $400,000 for the general fund.

Counting all funds, the surplus auctions in November, December and April raised a total of $1.4 million dollars.

The City normally holds one surplus auction in the fall and one in the spring. There was an additional sale this year, in December, selling only surplus vehicles. That sale brought in $469,000.

The latest auction included saddles, tack and other equipment from the now disbanded mounted patrol of the Tulsa Police Department.

"We are pleased to see such good results from this weekend's surplus sale," said Mayor Dewey Bartlett. "While the money we raise in this manner is only a tiny fraction of our budget, any contributions to the General Fund are especially important this year."

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