Policy Long-Term Lease Equipment

policy long term lease equipment modified Tue Nov 21 2023 09:09:35 GMT-0500 (Eastern Standard Time)

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University of Louisville

OFFICIAL
UNIVERSITY
ADMINISTRATIVE
POLICY

POLICY NAME

Long-Term Lease Equipment

EFFECTIVE DATE

POLICY NUMBER

PUR – 32.00

POLICY APPLICABILITY

This policy applies to University Administrators, Faculty, and Staff.

REASON FOR POLICY

Compliance with KRS

POLICY 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.

FORMS/ONLINE PROCESSES

Long-Term Lease Equipment Procedures

ADMINISTRATIVE AUTHORITY

Vice President for Finance and Chief Financial Officer

RESPONSIBLE UNIVERSITY DEPARTMENT/DIVISION

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

The University Policy and Procedure Library is updated regularly. In order to ensure a printed copy of this document is current, please access it online at http://louisville.edu/policies.