EQUIPMENT FINANCING

• 1.0 Purpose
• 2.0 Policy
• 3.0 Definitions
• 4.0 References
• 5.0 Approvals and Revisions

1.0 Purpose

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"

Other options:

Over $25,000:

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.

Under $25,000:

Purchasing will review these purchase requisitions to determine if financing is appropriate and if the terms are satisfactory.

For equipment loans see also:

• Policy VII.D.4, "Equipment Loans"

3.0 Definitions [Top]

4.0 References [Top]

5.0 Approvals and Revisions [Top]