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Business and Financial Policies and Procedures

12.4.6 Process Unlocatable Equipment

Policy Statement

If an equipment item cannot be found after a thorough search, such as during the biennial inventory, it is considered unlocatable. Unlocatable equipment may be removed from Banner Fixed Assets if certain conditions are met. If the equipment was bought with sponsored project funds, the sponsoring agency may require restitution for unlocatable or damaged equipment.


To process unlocatable equipment:

  1. Consult Banner Fixed Assets to confirm that your unit is on record as the responsible organization for the equipment and that it is titled to the state of Illinois.
  2. Log on to FABweb, and select "Update an Existing Asset." Change the condition code to "P" (Pending Resolution).
  3. Perform an extensive search for the unlocatable equipment.
  4. Complete a surplus/disposal transaction in FABweb.

In the Comments field, explain, to the best of your knowledge, what happened to the equipment and how you have searched for it. Include the name of any individuals who have attested to the disposition of the equipment.

  1. Cancel or modify any maintenance contracts related to the equipment. If the item was insured, contact the University Office of Risk Management.
  2. Use FABweb to forward the transaction to your unit approver, who will approve and forward it to University Property Accounting and Financial Reporting (UPAR). They may request additional clarification or documentation as needed for the University of Illinois System internal control considerations.
  3. UPAR changes the equipment record to reflect that the item has been disposed.
  4. Four weeks after submitting the request, verify that the asset has been assigned a disposal code in Banner Fixed Assets.

Additional Resources

FABweb Transfers and Disposals Participant Guide

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

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