July 16, 2013
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Faculty Handbook

Equipment Loan Policy

General information
Equipment owned by the State may be removed from its assigned location only with prior written permission from the appropriate agency head. State equipment is not intended to be used for personal reasons. Loan permission is to be granted only in order to conduct State business. The equipment may be loaned if the agency head is convinced that the removal of such equipment will not:

1. Interfere with the normal operation of the agency
2. Cause unreasonable wear and tear on the equipment
3. Cause expense to be incurred by the agency
4. Provide for profit-making activities

It is necessary to have control over equipment that leaves State premises. An individual who has been authorized to use State equipment on loan must sign the “Record of Equipment on Loan Form” – CO-1079 or a similar form prepared by the agency. The individual will be responsible for theft or other cause and/or any damage to the equipment. They will provide due care and security for the equipment until it is returned to the agency. In the event of a theft, the procedures as prescribed in Chapter 9 regarding “Loss or Damage to Real and Personal Property” must be adhered to.

Internal Agency Procedures
The “CO-1079-Record of Equipment Loan Form” or similar agency form must be completed in triplicate. One copy is retained by the division or department loaning the equipment, one copy is to be sent to the Property Control Unit and the final copy should be given to the individual authorized to use the equipment.

Equipment should not leave State premises unless an inventory tag is on the equipment.

The division or department should maintain a log book to hold the forms. The forms should be numbered consecutively. It is the responsibility of the unit to follow up on the equipment out on loan. If the equipment has not been returned by the expected date indicated, procedures should include making direct contact by letter or phone on a weekly basis with the individual until the equipment is returned. Equipment should not be loaned for extended periods of time and all equipment should be returned to the agency during a physical inventory.

For questions, please contact Kevin Koschel, Property Manager at 7-3933.

Form: Equipment Loan Form

Revised July, 2002
Updated July, 2008