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Equipment Management

Equipment Management Bulletin

Next Equipment Biennial Inventory Cycles Due 2023

All COVID related Biennial Inventory cycles were closed on December 31, 2021. Below are the new 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.

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

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). For more information on role assignments and requesting access, please refer to: Requesting FABweb Access. The Sec App will not allow USCs to set up roles that are incompatible. Please refer to the following website to see what roles are incompatible 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.
  • Equipment Transfers Out with Researcher: Please review Policy and Procedure 12.3.4 Download and review instructions, complete and submit required forms.

Last Updated: March 30, 2022

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