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Business and Financial Policies and Procedures

Remove Destroyed Equipment from Inventory

Before You Begin

If equipment has been destroyed or irreparably damaged through casualty loss such as fire, flood, or accident, the loss must be reported immediately to University Property Accounting and Reporting (UPAR). If the equipment was bought with sponsored project funds, the sponsoring agency may require restitution for unlocatable or damaged equipment.

Begin

To remove destroyed equipment from inventory:

  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. Complete a surplus/disposal transaction in FABweb. In the Comments field, refer to specific information about the incident and indicate what documentation such as fire/police reports and insurance claims are being sent through campus mail. In the documentation include identifying information such as the FABweb transaction number.
  3. Use FABweb to forward the transaction to your unit approver, who will approve and forward it to UPAR. They may request additional clarification or documentation as needed for University internal control considerations.
  4. Cancel or modify any maintenance contracts related to the equipment.
  5. UPAR changes the equipment record to reflect that the item has been disposed.
  6. Four weeks after submitting the disposal request, verify that the asset has been assigned a disposal code in Banner Fixed Assets.
  7. UPAR reviews the form. UPAR may request additional clarification or documentation as needed for University internal control considerations. UPAR changes the equipment record in Banner Fixed Assets to reflect that the item has been disposed.

Related Policies and Procedures

Remove Data from Electronic Devices

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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