More than 800 bidders registered and spent more than half a million dollars Saturday at the city of Tulsa’s surplus property auction, where vehicles, office equipment and unclaimed police property room items were sold.

“These revenues were projected in the current fiscal year budget and will help offset shortfalls in revenues that have occurred in other areas, “ Finance Director Mike 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.”

The sale brought in $503,000, placing it well above the average of $382,000 raised at the past 25 surplus auctions, which take place every spring and fall. The number of bidders was also well above the average of 500.

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 day-to-day operating expenses. The city has raised $790,000 for the general fund so far this fiscal year with the surplus sales. It was projected that auctions would raise only about $400,000 for the general fund.

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 that are paid by city of Tulsa utility customers for services delivered specifically by the city.

“We are pleased to see such good results from this weekend’s surplus sale,” said Mayor Dewey Bartlett Jr. “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.”