Unlocatable or Stolen Equipment

Casualty loss

If equipment is destroyed or irreparably damaged through fire, flood, or accident, it is considered a casualty loss. Please see Lesson 3: Other Disposals and Presumed Disposals of FA103 FABweb Transfers and Disposals.

Unlocatable equipment

If an item of equipment cannot be found after a thorough search, such as during biennial inventory, it is considered unlocatable. Unlocatable equipment may be removed from the official property record if certain conditions are met. Please see Lesson 3.2: Other Disposals and Presumed Disposals for disposal instructions.

Stolen equipment

Units must immediately report stolen equipment to the police and provide them with a complete description of the equipment, including the property control (PTag) number and the manufacturer's serial number. Please see Lesson 3.2: Other Disposals and Presumed Disposals for disposal instructions.

Sponsor-titled equipment

Approval for disposal of unlocatable or stolen sponsor-titled equipment must be obtained from campus Grants and Contracts before the FABweb disposal request is submitted to University Property Accounting and Reporting. See Unlocatable and Stolen equipment sections above for disposal information. See contact information on the Grants & Sponsored Projects Who To Ask page to obtain Grants and Contracts approval.

Replacement of equipment

Unlocatable or stolen equipment can be replaced only with funds obtained from the unit unless eligible for alternate funding. The sponsoring agency may require restitution for unlocatable or damaged equipment acquired with grant and contract funds. See OBFS Policies and Procedures Manual, 16.1.4 Equipment, Equipment Leases, and Expendable Supplies.

Restitution

Department heads are responsible for determining if restitution is appropriate from an individual for unlocatable or stolen equipment. Equipment Loan forms are required when individuals borrow or take custody of equipment outside of University premises. Individuals may also be asked to reimburse the University if:

• Equipment was misplaced or damaged because of neglect while in their care
• University property was used without being granted explicit or implicit departmental knowledge or authorization

For more information, see OBFS Policies and Procedures Manual, 12 Property Accounting.

Security Measures

Suggestions for maintaining security over University property include:

• Avoid leaving offices or laboratories unlocked while unattended
• Lock small and valuable equipment in cabinets and drawers when not in use
• Keep a record of description, serial number and custodian of non-inventoried equipment within the unit