12.4.1 Remove Stolen Equipment from Inventory

Policy Statement

If an employee believes equipment has been stolen, they must report the theft immediately to their 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.

Reason for the Policy

Units must safeguard equipment in their custody including immediately reporting any equipment that is missing or stolen to their relevant university police department.

Applicability of the Policy

All University of Illinois System equipment regardless of inventory tracking status.

Procedure

To remove stolen equipment from inventory:

1. Consult Banner Fixed Assets to confirm that the unit is on record as the responsible organization for the equipment and that it is titled to the State of Illinois.
2. After reporting the theft to 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 are being sent via email. In the documentation include identifying information such as the FABweb transaction number.
3. Use FABweb to forward the transaction to the 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 C.