The Office of the Vice President, Chief Financial Officer & Comptroller announces changes to the University of Illinois System’s procedures for loaning equipment to faculty, staff, or student employees. These changes are being made to accommodate the challenging environment facing units as result of telecommuting and social distancing requirements related to the Coronavirus (COVID-19).
Effective immediately units that loan equipment to faculty, staff, or student employees for less than one academic term may now either complete the Equipment Loan to Employees and Students form and retain it in your unit, or design and use a sign-out sheet as the loan agreement form.
The unit designed sign-out loan sheet should be used on a short-term basis, or as part of a documented business continuity plan. The sign-out loan sheet must contain the borrower's name, the borrower's signature or acknowledgement, a description of the equipment, the property control (PTag) number (or serial number if not recorded in Banner Fixed Assets), the date borrowed, and the date returned. If your unit is using emails to/from employees to acknowledge their remote working situation and the equipment on loan, units can subsequently create the sign-out sheet based on email acknowledgments received.
It is important to remember that employees who have been loaned equipment are responsible for its safe keeping. The unit head retains custodial responsibility for the equipment.
Updated procedural information can be found in 12.3.7 Loan Equipment to Faculty, Staff, or Student Employees of the Business and Financial Policies and Procedures Manual.
Contact
For questions about these changes, or other property accounting policies, contact Magdalena Jach at mj20@uillinois.edu or 312-585-9171.
For questions about the Business and Financial Policies and Procedures Manual contact the CFO Business and Finance Policy Office at (312) 585-9049 or obfspolicies@uillinois.edu
