Unlocatable or Stolen Equipment

All unlocatable or stolen equipment must be recorded immediately by changing the Banner Fixed Asset condition code to "P" (Pending Resolution).

Reporting Unlocatable or Stolen Equipment

Casualty loss - If equipment is destroyed or irreparably damaged through fire, flood, or accident, it is considered a casualty loss. Please see Lesson 3: Other Disposals and Presumed Disposals (PDF) of FA103 FABweb Transfers and Disposals.

Stolen equipment - Units must immediately report stolen equipment to the University Police and provide them with a complete description of the equipment, including the property control (PTag) number and the manufacturer's serial number. The unit must then promptly inform the University Property Accounting and Reporting (UPAR), provide any supporting documentation from the police record, and request that the stolen item(s) be recorded as disposed in Banner Fixed Asset. Please see Lesson 3: Other Disposals and Presumed Disposals (PDF) of FA103 FABweb Transfers and Disposals.

Unlocatable Equipment - If an item of equipment cannot be found after a thorough search, such as during biennial inventory, it is considered unlocatable.   Unlocatable equipment may be removed from the official property record if certain conditions are met. Please see Lesson 3: Other Disposals and Presumed Disposals (PDF) of FA103 FABweb Transfers and Disposals.

Sponsor-titled equipment

The above procedure must also be followed when reporting unlocatable or stolen equipment that is sponsor-titled. However, the written notification must be sent to the OBFS, campus Grants and Contracts Office instead of the OBFS, University Property Accounting and Reporting.

Replacement of Equipment

Unlocatable or stolen equipment can be replaced only with funds obtained from the unit unless eligible for alternate funding. The sponsoring agency may require restitution for unlocatable or damaged equipment acquired with grant and contract funds.

Security Measures

Suggestions for maintaining security over University property include:

  • Avoid leaving offices or laboratories unlocked while unattended
  • Lock small and valuable equipment in cabinets and drawers when not in use
  • Record manufacturer's serial numbers in unit records whenever these numbers are not included in the University movable equipment item description
  • Secure by bolting or other means, typewriters, personal computers, and other portable equipment, to discourage thefts.

Employee Restitution

Departments may choose to request restitution from an employee for unlocatable or stolen equipment if the equipment was lost or stolen while that employee was responsible for it. Employees may also be asked to reimburse the University if equipment was misplaced or damaged because of neglect while in their care, or if they have used University property without being granted explicit or implicit departmental knowledge or authorization.

The decision to request employee restitution for unlocatable or stolen equipment must be made by the department head. The conditions, under which a department may request employee restitution, as well as the procedure to follow to determine liability and reimbursement, can be obtained by contacting Denise Stanley via e-mail to dmstanly@uillinois.edu.

For more information, see the Section 12 of the Business and Financial Policies and Procedures manual.

Training

It is recommend that individuals working on equipment management to complete the Property Accounting - FABweb Transfers and Disposals course. Please see Training section to find out what courses are offered or find job aids and other training materials.

 

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Last Updated: November 14, 2011