Form 02-657, "Property Receipt" allows the Property Custodian of the "loaning" department to maintain a record of such items and is the only record acceptable to an auditor in documenting the location of items not physically present at the time of an audit. The Property Receipt may be destroyed once all items on it have been returned.
Custodians may also find this form useful in keeping track of non-controlled items loaned as well as items "issued" for field use. If an item will be on loan for six months or more, a permanent transfer must be considered.
