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5.2.2 Equipment and Real Estate Leases

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This Guide Memo describes policies that apply to equipment and real estate leases. Capital and operating lease liabilities utilize the University's debt capacity. All uses of debt must comply with the University's debt policy and require prior approval. The only parties authorized to execute documents that commit Stanford to a lease obligation are: the Director of Procurement and the CFO for equipment leases; the Vice President for Land, Buildings & Real Estate; the Managing Director, Real Estate; and, the Provost for real estate leases. For relevant policies, see section 1 in Administrative Guide Memo 5.1.1: Procurement Policies. Approvals, requisition processes and reporting requirements are included.

5.4.4 Petty Cash Funds

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This Guide Memo outlines policy on establishing and managing a petty cash fund. It should be used in conjunction with procedural information, resources, and forms, which outline the application of this policy and may be found on the Petty Cash Administration section of the Gateway to Financial Activities website (Fingate).

3.1.1 Responsibility for University Financial Assets

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This Guide Memo outlines the roles and responsibilities of various University officers and organizations in managing the University's financial assets.

2.2.3 University Payroll

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This Guide Memo contains general policies concerning the University payroll. SLAC National Accelerator Laboratory (SLAC) currently applies the applicable policies contained herein. SLAC departments should consult SLAC Business Services Division for SLAC procedures.

3.3.1 Infrastructure Charges

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The Board of Trustees of Stanford University approved a revised infrastructure policy in October 2004. The revised policy, effective September 1, 2005, increases the infrastructure charge (ISC) from 6% to 8% for both new and existing funds. For designated funds, the infrastructure charge will be applied at the time funds are received from all external revenue sources. For restricted funds (expendable gift funds, endowment income funds and sponsored project funds that carry an F&A rate of 0%), the infrastructure charge will be applied at the time funds are expended or transferred.

Gifts for building projects are exempt from the infrastructure charge. The infrastructure charge collected from funds owned by non formula schools will be credited75% to a central University PFOO (project/fund/object code/org code) (controlled by the budget office) and 25% to a central PFOO owned by the budget unit involved in the transaction. The infrastructure charge collected from funds owned by formula schools and auxiliaries will be credited directly to a central PFOO belonging to the formula school or auxiliary.

Any exceptions to the policy require approval of both the Provost and the CFO and are to occur rarely, if at all.

3.1.5 Retention of Financial Records

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This Guide Memo covers time requirements for retaining financial records and security requirements for disposing of old records.

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