Issued: February 28, 1992
Owner: University Comptroller
Latest Revision: February 3, 2009
**ACTIVE BUT UNDER REVISION**
This policy is currently under revision at the University. Although the statements herein reflect enforced policy guidance, please contact the "Owner" listed above if you have questions about how this policy applies to your office. The statements herein are to be used as general guidance until the policy has been revised and added to the University Policy Directory. Thank you.
This policy describes how departments may go about financing equipment.
2.0 Policy [Top]
Departments have several different options in financing equipment. Those options are:
- Policy X.C.1, "Equipment Trust Fund (ETF)"
- Policy VII.R.7, "Use of Treasury Board Financing Program"
NOTE: The submitting office is responsible for coordinating the appropriate Investment & Tax Services review.
Equipment leases, lease/purchases, or installment purchases for the University Division with a contract price of $25,000 or more must be reviewed by Investment & Tax Services.
Equipment leases, lease/purchases, or installment purchases for the Hospital Division with a contract price of $25,000 or more must be reviewed by the Hospital Budget Office.
Purchasing will review these purchase requisitions to determine if financing is appropriate and if the terms are satisfactory.
For equipment loans see also:
3.0 Definitions [Top]
4.0 References [Top]
5.0 Approvals and Revisions [Top]