2322 Disbursement for University Debt Obligation

Document purpose

To establish the timely payment of valid and authorized University debt obligations.

effective

January 1989

revised

May 2023

Reviewed

April 2024

Responsible Office

Treasurer

Approval

Treasurer

Policy

  1. The Office of the V.P. for Finance and Treasurer has the authority and responsibility to ensure the timely payment of University debt obligations in accordance with applicable debt instructions.

  2. Debt service payments will be initiated through Penn Marketplace and completed by Finance & Treasury.

  3. Debt service payments must conform to the Debt Service Schedule as approved annually by the Associate Vice President, Finance & Treasury Management.

  4. Debt service agreements executed subsequent to the annual approval of the Debt Service schedule must be approved individually by the V.P. for Finance and Treasurer and added to the schedule prior to any payment thereon.