Property Management Policy & Procedure Manual
Section 000: Introductory Material
The Property/Equipment Loan Agreement - To Employees is used to authorize and record the off-site OSU-related use of University-accountable property. The form should be completed and signed by the borrower and the department head before the property leaves its University location. The original form is to be filed by the department. A copy of the form should be forwarded to Fixed Assets Property Management within Financial Accounting & Analysis (FA&A), if the equipment has an OSU inventory/asset number. See PRO 701-01: Equipment Loaned - To Employees for additional information on this type of loan agreement.
Complete the form as follows:
- College: The name of the college responsible for the equipment.
- Department: Name of the Department responsible for the equipment
- Employee's Name: Enter the name of the person borrowing the equipment.
- Title: Enter the faculty rank or position.
- Department: Name of the employee's Department at OSU.
- Period of Authorization (not to exceed two years) From and To: The beginning and ending dates of the loan agreement. Equipment should not leave campus until this form is completed.
- Off-Site Location of Equipment: Enter the primary location where the property will be kept.
- Justification for off-campus use: Explain why the equipment is needed off-campus.
- Employee Name: Enter the name of Employee who is borrowing the equipment.
- Signature of Employee: Employee must sign the form acknowledging that they have read the form and will abide by the terms of the agreement.
- Date: Enter the date the employee signed the form.
- Department Head Name: Enter the name of the Department Head.
- Signature of Department Head: The Department Head must sign all loan agreements.
- Date: Enter the date the Department Head signed the form (all loan agreements must be dated).
Attachment A: Enter the item Description, Manufacturer/Model, Asset number and/or Serial Number. Condition of the equipment and the Estimated Replacement Cost.
- Include a photograph of each piece of loaned equipment listed.