1. Guidelines for Leases and Maintenance Agreements Procure to Pay Services Updated 2/2/2012

2. Table of Contents (Page 1 of X) Requirements for Leases and Maintenance Purchase Orders Proper Filing Renewal of Existing Leases Checklist for Lease Requisitions Maintenance Agreements and Leases that Include Maintenance AgreementsMaintenance Agreements and Leases that Include Maintenance Agreements Any Questions?

3. Requirements for Leases and Maintenance Purchase Orders Proper Signature –All new leases must be signed by Procurement Services (Department Heads, Deans etc., are not authorized to sign Lease Agreements). –Once the department has made a decision to lease equipment, the Lease Agreement should be forwarded with a requisition to Procurement Services for authorized signature and processing. –REMINDER: Any commitment exceeding $25,000 in an fiscal year is subject to bid requirements.

4. Proper Filing The State of Ohio requires that a copy of all leases must be on file in the Division of Finance. Therefore, unless we have a copy of your lease is in our files, you must attach a copy to any Requisition for a new lease, or for continuation of an existing lease. Any lease Requisition that does not have an attached copy of the agreement, or that does not note that a previous copy was sent to Procurement Services, will be returned to the department to attach the agreement copy prior to processing.

5. Renewal of Existing Leases Send a Requisition to Procurement Services to extend your lease into the new fiscal year. A new purchase order number will be assigned, and the old Purchase Order number will be listed in the body of the new purchase order for reference. The purchase order number that was used for the previous fiscal year should therefore be in the body of the requisition for the new fiscal year. This procedure will allow for the uniform tracking of Leases that is now required. NOTE: You are not permitted to use a Purchasing Card and Direct Payment for leases.

6. Checklist for Lease Requisitions Item description Make Model Number Serial Number Number of Payments to be covered and length of term For existing Lease, the prior fiscal year purchase order number Attached Lease Agreement (unless a copy of the agreement is in the files of Procurement Services) All Requisitions must coincide with the university’s fiscal year (July 1 through June 30). If the lease starts in mid-year, the encumbrance requested should not cross the next fiscal year (i.e. If a lease begins August 15, 2011, the encumbrance will be for 10 1/2 months, Aug 15, 2011 through June 30, 2012. Then, assuming it is needed, the Requisition for following fiscal year should cover a full 12 month period July 1 through June 30.

7. Maintenance Agreements and Leases that Include Maintenance Agreements Requisitions for Leases that include Maintenance, or are for Maintenance agreements alone, should also include the make, model, serial number and covered number of payments as specified above. IMPORTANT: The first line of your Requisition should include lease/maintenance charges ONLY. A separate line should be established to include estimated overages. For copy overages.

8. Any Questions? Please contact us by sending an email to: financecustomercare@ohio.edu or you can call 740.597.OHIO (6446).