2311.1 Facilities Leasing and Procurement

Responsibility: 

FRES is responsible for evaluating and approving all external third party facility lease agreements to ensure proper accounting and reporting treatment (i.e. operating or financing).

FRES is also responsible for maintaining the relationships with external landlords acting as an agent in the lease of external third party property and payment of the related lease costs. 

FRES is also responsible for the allocation of all related lease costs as directed by the department’s business administrators. 

Authorization and approval: 

All agreements and/or letters of agreement for leased property must be executed by the Senior Vice President for Facilities & Real Estate Services. 

Compliance: 

FRES is responsible for maintaining copies of all fully executed external third party facility lease agreements.