Fixed Assets - Loan of Equipment

Fixed Assets - Loan of Equipment

07 July, 2017

Copy of Email to All Staff

Please see information below in relation to The Institutes Policies & Procedures for the loan of its fixed assets. Assets on Loan

What constitutes equipment on loan ?

Section 28 of the institutes Fixed Asset Policy states: “Assets maybe loaned to staff members or students to facilitate them in carrying out their duties or studies. The Capital Assets Section of the Finance Office shall maintain a central repository of all signed and approved assets that are on loan including who is responsible for the asset whilst on loan and the authorization from the relevant officer.”

This covers equipment used for one-off events, equipment being permanently located off-site and regular loans. The most common item of equipment subject to loan is a laptop. So for example where a staff member brings a laptop home to work on an occasional basis, this constitutes a loan. In this example the loan form can be completed for an extended period. The maximum period allowed is two years, but this can be renewed.

This authorisation is achieved via the Loan of Equipment Form also attached (A scanned copies of this form is sufficient provided it includes the relevant signatures.)

Why complete a loan form for off campus use?

The loan form ensures the item is covered under The Institutes insurance in the event of theft or damage when off campus. A loan form protects you and your equipment in the event of your equipment being stolen, lost or damaged when off campus.

Who authorises a loan form?

The loan of equipment is not authorised unless it is signed by the relevant Head of Department.  Please insert the barcode number, description and room number when on campus. Please find example of the two types of barcodes, one of which will be on your laptop.  If your laptop is not barcoded please contact me to barcode. 

 

Barcode 1 

 

Barcode 2

 

When an asset no longer on loan?

When you no longer need to take it off campus, when you returned it or passed it onto another staff member. In all these circumstances please contact and inform the office of its new location, new owner or who you returned it to. To improve our process, we have commenced reminding all staff and students with equipment loans that are due to expire by email. The loan can then be renewed or the location updated or item disposed as necessary. This will be done on a monthly basis.

 

Please contact Sharon Coffey if you have any queries. Ext 5145.

 

Related documents

• Loan of Equipment Form

• Fixed Assets Policy

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