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Business and Financial Policies and Procedures

Identify Donated, Found, and Other Non-Cash Addition Equipment

Before You Begin

A non-cash addition is equipment that is not in Banner Fixed Assets and should be because it is owned by the University. This can happen when the item is found or acquired through donation, loan, or transfer from another institution. It will not automatically appear in your list of FABweb new acquisitions. Therefore, you must enter it in FABweb.

Begin

To identify non-cash addition equipment:

  1. Determine whether the item fits one of the categories below:

Fabricated Equipment - Constructed within the University. Includes costs of drawings, designs, labor, component parts, materials, and supplies used in construction.

Capital Lease Installment Purchase - Bought "on time." Ownership is transferred to the University after a series of payments.

Found - Item meets all these criteria:

  • Located in a unit's facilities, with no University identification label.
  • Has a current estimated fair market value of $500 or more. (Because the reporting threshold changed July 1, 2005, if the item was purchased before that date for less than $2,500, it does not have to be recorded in Banner Fixed Assets using FABweb.)
  • Not found in search of Banner Fixed Assets.

Donated or Gift - Given so the University did not need to purchase (does not include real property).

Certificate of Participation - Acquired through external financing such as issuance of a bond or bonded indenture.

Other - Acquired from other agencies or institutions. Researchers may bring equipment with them. Report equipment obtained from the State Surplus Warehouse or directly from another State of Illinois agency to University Property Accounting and Reporting (UPAR).

Related Policies and Procedures

Add Donated, Found, and Non-Cash Addition Equipment to FABweb
Classify Equipment and Property

Last Updated: June 1, 2011 | Approved: Senior Associate Vice President for Business and Finance | Effective: June 2011

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