OSU PRO 701-03: Loaned Equipment - To OSU

Purpose

To document and record equipment being loaned to OSU.

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Policy

The Property Management Office must approve all equipment loaned to OSU.  Equipment loaned to OSU must be for official institutional purposes and the use must be directed by OSU Officials, Managers, or Representatives.

OSU does not accept responsibility for personally owned equipment that is lost or stolen.  However, if personally owned property is being used for university business, generally the property will be covered by Risk Management.  Exceptions include stereo equipment, radios, pictures, paintings, fans, and general property not to be used for university purposes.

Property Control suggests that individuals who have personally owned equipment on campus take the following precautions to avoid the possibility of its being mistaken for OSU equipment:

• Mark the equipment for identification of ownership.
• Provide the department head with a list of personally owned equipment being used for university purposes.

Should confusion arise, proof of ownership will lie with the individual, not with OSU.

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Procedure

Responsible Party	Action
Department	Download a Personal Property Loan Agreement form from the Inventory Control website. Complete and submit the original Personal Property Loan Agreement with the appropriate signatures (Department & Loaner) to Property Management.
Property Management	If the equipment loan is for less than 90 days, forward the Personal Property Loan Agreement form to the OSU Risk Management Office and the item will be insured under supplemental insurance. If the equipment loan is for more than 90 days, an asset record will be created and a bar code tag will be generated for the equipment. Maintain the original executed agreement at Property Management.
Department	Ensure that equipment is returned or loan agreement is renewed.

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Cross Reference

See PRO 206: Equipment Acquisition - Loan for related information.

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Additional Information

See the Department of Public Safety & Oregon State Police website for information on how to identify your personal items through the "Operation ID" program.

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