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Policy Manual

7530 - Lending of Board-Owned Equipment

Property on Loan

When property is on loan to an employee (District purpose only), a Loan Contract and Hold Harmless Agreement (Form SB-00130) must be on file at the site. This form is available in Lawson Asset Management under the Finance, Assets Bookmark. In order to properly account for property on loan, the following steps must be followed:

  A. A loan contract must be completed before property is removed from the site. Any property removed without a loan contract may be considered stolen. Unauthorized use of property is subject to disciplinary procedures.


  B. Loan contracts must be filled out in its entirety and approved by the administrator or designee. Please note this also requires that the form is signed when the item has been returned.


  C. Loan contracts must be kept in a binder along with the master inventory report and other inventory documentation. This should be kept for three (3) years.


  D. A loan contract must be renewed each fiscal year.


  E. The signature of the student’s parent or guardian is required on all student loan contracts.


  F. A loan contract must be on file if property is loaned to another site.


  G. Property on loan to another site for over a six (6) month period should be transferred to the site where it is actually located.


Property Out for Repair

All repair tickets must be kept on file.

Approved 5/18/12

© Hillsborough 2012

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