Initiating an Asset Loan

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Last updated: Apr 19, 2022 by Sarah Nguyen (Deactivated)
2 min read

Faculty and staff can initiate an asset loan through Kuali Financials (KFS).  

Overview

The purpose of the equipment on loan process is to notify Inventory Control of one of the following: 

  • The removal of University-owned equipment from State property for a period of up to two years. A loan can be initiated for a continuous, intermittent, or one-time loan.  

  • The return of the equipment from off-State property use.

The equipment borrower is responsible for theft or damage to the equipment and is required to provide due care and security for the equipment until it is returned to the University. 

Initiating an Asset Loan

  1. Navigate to the Assets page. 

  2. Click on Asset. 

  3. Enter the UCONN Decal Number (KD4668) into the Tag Number field to search for it.

  4. Once you find the asset, click Loan in the Actions section in the bottom left corner.

  5. As with all other documents in Kuali, enter a description in the Overview section. 

  6. Browse through the Asset Information in the Asset section to ensure that this is the asset you wish to loan.

  7. On the Equipment Loans tab, complete the following fields:  

    • Borrower ID: Click on the magnifying glass icon to search for the Borrower ID using the lookup tool.  

    • Expected Return Date: The document only allows you to enter a return date 2 years or less from the loan date. You need to renew the loan every two years if the equipment is being loaned long-term.   

    • Loan Date: This field is auto-filled with the current date; however, you can manually change it to a different date if you wish. 

  8. Enter the borrower’s information into the fields on the Borrower’s Address tab, including the location in which the asset will be housed.    
    Note: These fields do not auto-fill based on User ID.  

  9. Click Submit when you are finished. The document will then route to both the Fiscal Officer on the Owner Account and the Borrower for approval. 

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