12.1.9 Add Donated, Found, and Other Non-Cash Addition Equipment to Banner

Policy Statement

All equipment valuated at $2,500 or more must be recorded in Banner, even if the unit did not purchase it.

Reason for the Policy

Units must add all equipment received in the unit that is not purchased and added to inventory through the standard FABweb purchase process.

Applicability of the Policy

All University of Illinois System equipment belonging to the system and the State of Illinois.

Procedure

Treatment of Non-Cash Addition Equipment

If the equipment is a gift, submit a Report of Gift Received Transmittal form to the University of Illinois Foundation.

If the equipment has been permanently transferred from another institution, it will become property of the University of Illinois System and/or State of Illinois unless the research sponsor has mandated otherwise.

If the equipment is on loan from another institution, consult with University Property Accounting and Reporting (UPAR) for recording in Banner Fixed Assets.

To add non-cash addition equipment to Banner:

1. Determine the type of non-cash addition and confirm the fair market value is $2,500 or greater.
2. Log in to FABweb.
3. Select "Process a New Acquisition for Banner Fixed Asset."
4. Select "Create a new non-cash record."
5. Follow the instructions provided online in FABweb to email Property Accounting with the details of the equipment item.
6. Property Accounting will review the email, process a Journal Voucher (JV), and will directly create the non-cash addition record in Banner using the unit details provided.

Equipment From Another University

When equipment from another university has accompanied a researcher, determining how to record that asset can be complex because each situation may be unique:

1. Consult with UPAR to determine the proper recording of the asset. Provide documentation that the former institution is transferring title, along with attributes required for entry into Banner Fixed Asset. If the former institution is NOT transferring title, the equipment remains the property of the sponsoring agency until the sponsor either relieves the system of accountability in writing or the title is transferred to the system:
   • As part of the sponsor's agreement
   • At the request of the system and with the written approval of the sponsor
2. UPAR will work with the unit to add the equipment to Banner inventory.