12.4.1 Remove Stolen Equipment from Inventory

Policy Statement

If you believe equipment has been stolen, report the theft immediately to your university police. University Property Accounting and Reporting (UPAR) periodically reviews all reports of unlocatable and stolen equipment to identify potential weaknesses in internal control and security of university assets. If the equipment was bought with sponsored project funds, the sponsoring agency may require restitution for unlocatable or damaged equipment.

If a computer was stolen, contact University Property Accounting and Reporting (UPAR) immediately to determine if personal identity information has been compromised and what steps to take.

Procedure

To remove stolen equipment from inventory:

1. Consult Banner Fixed Assets to confirm that your unit is on record as the responsible organization for the equipment and that it is titled to the state of Illinois.
2. After you have reported the theft to your university police, complete a surplus/disposal transaction in FABweb. In the Comments field, refer to specific information about the incident and indicate what documentation, such as police reports and insurance claims is being sent through campus mail. In the documentation include identifying information such as the FABweb transaction number.
3. Use FABweb to forward the transaction to your unit approver, who will approve and forward it to UPAR. UPAR may request additional clarification or documentation for the University of Illinois System internal control considerations.
4. Cancel or modify any maintenance contracts related to the equipment.
5. UPAR changes the equipment record to reflect that the item has been disposed.
6. Four weeks after submitting the disposal request, verify that the asset has been assigned a disposal code in Banner Fixed Assets.

Related Policies and Procedures

12.4.5 Remove Data from Electronic Devices
12.2.7 Assess an Employee for Missing or Damaged Equipment

Last Updated: December 4, 2018 | Approved: Senior Associate Vice President for Business and Finance | Effective: June 2011