12.3.7 Equipment Loans to Faculty, Staff, or Students

Policy Statement

Units may loan equipment to faculty and staff or students to support the mission of the University of Illinois System. Faculty, staff, or students who have been loaned equipment are responsible for its safe keeping. The unit head retains custodial responsibility of any loaned equipment.

Reason for the Policy

Units may choose to loan equipment to faculty and staff or students to support the mission of the system.

Applicability of the Policy

Equipment for which a unit is listed as the Responsible Organization in Banner Fixed Assets and that is titled to the state of Illinois. At the discretion of the unit, equipment that is not listed in Banner Fixed Assets may be included in the documentation required in the equipment loan procedure.

Procedure

Units must document equipment loaned to faculty, staff, or students and must retain records of all loans. Units should consider the duration of the loan when deciding which method to use when documenting a loan. Equipment may be loaned for a duration of up to two years. Equipment loans may be extended by completing new agreements.

Units must update the record in FABweb of any equipment loaned for a duration of one year or longer by entering an off-campus location code, a condition code of "E" (Loaned to Faculty/Staff/Student), and the UIN of the person who holds custody of the item in the custodian field. Add the actual location to the end of the existing description.

Methods of Documenting Equipment Loans

Units may document and approve equipment loans using any the following methods.

1. Telecommuting agreement
   The agreement must contain; the borrower's name, the borrower's signature or acknowledgement, a description of the equipment, the property control (P-Tag) number (or serial number if not recorded in Banner Fixed Assets), and the duration of the loan.
2. Equipment Loan to Employees and Students form

3. Unit-designed sign-out sheet (loans of less than one year)
   The sign-out sheet must contain; the borrower's name, the borrower's signature or acknowledgement, a description of the equipment, the property control (P-Tag) number (or serial number if not recorded in Banner Fixed Assets), the date borrowed, and the date returned.

Forms Used in this Procedure

Equipment Loan to Employees and Students
    Instructions to complete the above form

Related Policies and Procedures

12.2.3 Comply with Unit Head Property Custodial Responsibilities
12.2.7 Assess an Employee for Missing or Damaged Equipment

Additional Resources

Telecommuting Agreements
System Offices: Telecommuting Agreement
Urbana Champaign: COVID-19 Remote Work Protocol Telecommuting Agreement

Last Updated: August 18, 2020 | Approved: Vice President, Chief Financial Officer & Comptroller | Effective: June 2011