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SPA Process User’s Guide – Chapter 2 – General Policies

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Loan of Property

Policy

Agencies loaning property to other state agencies or entities do not absolve themselves from the responsibility of ensuring stewardship of the property or the reporting requirements for the property. Reporting of the property must continue as though the loaning agency still has possession of the property. The loaning agency also maintains documentation on the provisions of the loan. All loaned property must be reported in the physical inventory of the loaning agency.