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Equipment Management

Equipment Management Bulletin

New Feature: 'Asset Search' is now available

A new query function called Asset Search is now available for FABweb/Biennial Inventory users. This function allows users to search for information about a Banner inventory equipment record assigned to any Organization code by using various search criteria. Asset Search is a query page which means that data cannot be updated, but users can search for and review data. Asset Search provides the same information which is available in the Banner Fixed Asset Master Query Page, except for the funding and capitalization.

To learn more about the Asset Search query function, please review this new KnowledgeBase article.

Contact
For questions, please contact Magdalena Jach or Ron Janowski.

New FABweb Unit Rep Training

This 100% online course can be taken at your own pace. Completion of the Unit Rep certificate course is required before assigning new FABweb Unit Rep roles through your USC. The Security Application will automatically check for training completion and will not allow a request to be submitted if the course has not been completed.

To take the course visit FABweb Unit Rep Certificate Course

Read the Business & Finance News release here.

Next Equipment Biennial Inventory Cycles Due 2023

Below are the Biennial Inventory cycles with the next certification due dates in the calendar year 2023.

University

Cycle Start Date

Certification Due Date*

Cycle Close Date

UIC

July 1, 2022

March 31, 2023

June 30, 2023

UIS

September 1, 2022

May 31, 2023

August 31, 2023

UIUC

December 1, 2022

August 31, 2023

November 30, 2023

SO

December 1, 2022

August 31, 2023

November 30, 2023

 

*All future Biennial cycle certifications will be completed during odd calendar years 2025, 2027, etc.

Physical Inventory of Equipment Training Dates

For questions regarding Biennial Inventory cycles, please reach out to Magdalena Jach at mj20@uillinois.edu or 312-585-9171. 

Instructor-Led Training Opportunities

Business & Finance New Center Announcement – Equipment Management Training via Zoom for Physical Inventory of Equipment, FABweb Additions and Update, FABweb Transfers and Disposals.

Important Reminders

 

  • Determining the Value of Equipment: To value equipment, not only is the purchase price of the equipment itself included, but all ancillary charges necessary to place the asset into its intended location and condition for use need to be included. These costs include things like shipping, installation, transit insurance, testing, professional fees, site preparation costs and trade-in-allowance. If any of these charges are on an invoice with multiple items, use the prorated amount based on the total invoice amount minus the ancillary charges, do not include charges such as finance fees or maintenance. Also refer to: 12.1.3 Determine the Value of Equipment or Property. Please see your New Acquisitions Processor for any questions.

 

  • Journal Voucher FOATEXT should always include a purchase document reference such as an invoice, P-Card log or purchase order number.

 

  • If a purchase shows up in your FABweb under the $1,000 equipment threshold, please do not submit the asset in FABweb. Email your New Acquisitions Contact in Property Accounting to assist in removing the OTAG from FABweb. Please refer to the Department Property Contacts on our Equipment Management website to find your unit’s New Acquisitions Contact. 

 

  • Granting access to FABweb and the Biennial Inventory system is requested by your Unit Security Contact (USC) through the Security Application (Sec App).
    • More information on role assignments and requesting access, is available at Requesting FABweb Access. The Sec App will not allow USCs to set up roles that are incompatible.
    • Refer to the following website to see what roles conflict, if your department has conflicting roles and what role combination are allowed: Internal Controls: Short Term Implementation website.
    • You can find your USC here: Find my Unit Security Contact (USC). AITS is currently working on a FAQ for USC's that specifically addresses questions related to FABweb and Biennial roles that will be posted to the USC Website.

 

  • Before disposing of equipment at the Surplus Warehouse, a Disposal Request in FABweb must be submitted and approved before it can be delivered to the Surplus Warehouse. No dumping is permitted.

 

Last Updated: October 4, 2022

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