Policy Information
Long Term Lease Equipment
Effective
Number
PUR 32 00
Applicability
This policy applies to University Administrators Faculty and Staff
Administrative Authority
Vice President for Finance and Chief Financial Officer
Responsible Unit
Sally Molsberger - Chief Procurement Officer
Service Complex, University of Louisville
Louisville, KY 40292
502-852-8223
purchase@louisville.edu
History
Original Date: Unknown
Revision Date(s): November 20, 2023
Reviewed Date(s): February 14, 2020; November 20, 2023
Categories
Statement
The University of Louisville currently has established master agreements with financial institutions to finance equipment over time. The master leases do not preclude the need to solicit competitive bids in order to establish the cost to be financed, if items are not covered by an already established contract.
Reasoning
Compliance with KRS