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All property at the University, regardless of funding source, to which the University acquires title is subject to the regulations of the Illinois Department of Central Management Services as "State-owned property."
The custodianship of property purchased by or assigned to a unit is the responsibility of the unit head. The unit works with University Property Accounting and Reporting (UPAR) to ensure compliance with University procedures and the State Property Control Act. All employees have the responsibility for the prudent use, care and safeguarding of University property, regardless of its value.
University Equipment for University Purposes Only - No one connected with the University in any capacity may use any University property for personal purposes.
Managing equipment/property involves the following activities:
An item is considered equipment if it meets all of the following criteria:
- It is tangible property which lasts more than one year.
- It costs more than $100.
- It keeps its own identity; that is, it is not absorbed into another piece of equipment.
- It is moveable; it cannot be permanently fixed or attached to a building.
While equipment valued at less than $500 is not recorded in Banner Fixed Assets, items of equipment should not be considered expendable based solely on the recorded value.
All University equipment is indentified with either a “Property of the State of Illinois…” label or equipment items recorded in Banner Fixed Assets have labels with “University of Illinois, State of Illinois” and the assigned PTag printed on them.
Property Accounting Contact
Each unit must assign an individual to serve as a Property Accounting Contact, who serves as a liaison with UPAR. When the Property Accounting Contact person is changed or when a new unit head has been appointed, the unit must notify UPAR using the Property Accounting Contact Change Form . Contact UPAR to find out who unit liaisons are for a particular unit.
Insurance of Equipment
The University does not insure office contents (including but not limited to furniture and office, research, or scientific equipment) unless the unit head (or delegate) has arranged for insurance through the University Office of Risk Management and paid the required insurance premium. See Section 6, Insurance of the Business and Financial Policies and Procedures manual for additional information.
Personal Property on University Premises - The University assumes no responsibility for any loss, theft, or damage to an employee's personal property brought onto University premises, or University-leased premises, even if the property is brought to the University to be used in connection with the employee's work. The University carries no insurance to cover any of these losses.
Please contact University Property Accounting and Reporting (UPAR) at email@example.com.
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Last Updated: August 7, 2014