Valparaiso University
Electronic Information Services
Standard Operating Procedure
Number 1.5.9.3
Employee Loan for Home Computer Purchases
The importance of microcomputers as teaching, work-related,
and/or research tools for University employees will continue
to increase in the coming years. It is often very
advantageous for an employee to own a microcomputer for use
in his residence or office. To make it possible for an
increasing number of employees to own a microcomputer, the
University has set up a revolving fund to provide loans to
full-time employees of the University to purchase
microcomputer systems. (Only full-time, active employees
who have worked at the University for one year or more are
eligible.)
The following paragraphs describe the policies which govern
the implementation of the revolving fund, the procedures by
which a University employee may apply for a loan, and the
guidelines by which the application for a loan is evaluated.
Policies
-
This fund is intended to be used only for the purchase
of microcomputer hardware, including peripherals and
appropriate software. It is not intended to supplant the
University's responsibility to provide essential resources
to employees for the conduct of their normal work-related
responsibilities.
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The maximum amount of money loaned to the employees is
85% of the purchase price of the microcomputer resources, or
$3,000, whichever is less. The minimum amount of money for
which an application will be considered is $1,000. The loan
is interest free.
-
To pay back the revolving loan account, a payroll
deduction authorization must be signed by the employee to
deduct a minimum of $25.00 per pay period for a time frame
of 60 pay periods or less. Equal payments are required. If
employment terminates for any reason, the entire balance is
immediately due.
-
Loan approval is necessary prior to the purchase of any
equipment. Multiple vendors may be used under the loan
program, including mail order companies and local businesses
that are not vendors to the University, as long as the loan
application is approved prior to the purchase. Employees
must purchase the equipment with their own cash or credit
cards and supply EIS with a copy of the sales receipt before
they can be reimbursed for the loan amount. The equipment
should be delivered directly to the employee's choice of
address.
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Service, maintenance, insurance, and parts for the
microcomputer are the responsibility of the University
employee, and they cannot be included in the loan.
-
An employee who is awarded a loan under this program is
not eligible for a new loan for a period of 24 months after
the award date. The loan must also be paid off before a new
loan can be approved.
-
Additional software and hardware (e.g., a printer or
scanner, not a second computer) may be added onto the
existing loan. A 10% down payment of the purchase price is
required, and the final payment of the additional loan must
be scheduled to match the final payment on the initial loan.
Procedures
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An application (form #4050) may be obtained from the
University Switchboard Operator located in Kretzmann Hall
during normal office hours.
-
Completed applications are to be returned to the EIS
office in Kretzmann Hall for approval.
-
Decisions regarding loan applications will be
communicated to the applicants by the EIS office within
fourteen (14) days of the reading date.
-
The Finance Office will assume all further
communications and arrangements with the successful
applicants once the purchase requisition has been signed by
the EIS Administrative office.
Guidelines for Evaluation of Loan Applications
-
Employee's status and length of service to Valparaiso
University.
-
Proposed microcomputer resources' suitability to meet
the intended applications.
-
Availability of revolving funds for the program (funds
are limited).
Written by: <name> Date:
Approved by: Date:
Revised by: Susan Brobst Date: May 08 1998