Memorandum Of Understanding Page 2
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2allowable resources will be the next source of repayment for the loans, with the expectation that other
operations of the Borrower will be curtailed to ensure scheduled internal loan payments.
Availability of department funds will be determined at the discretion of Borrower at the close of each fiscal
year.
Annual Debt Service
The internal loan will be structured to require one payment per year on December 1, commencing on
December 1, 20__. Additional payments may be made at any time.
Repayment will consist of _________ payments in the amount of $________, including a final payment due on
December 1, 20__. The borrower acknowledges that due to the variable interest rate the final payment amount
may be higher or lower than the prior annual payments.
The borrower authorizes the Office of Treasury Operations and Accounting Services to make all annual
payments as follows:
___
_____________
__________________
___________________________________
BA
FUND
COST CENTER
REAL/STATISTICAL INTERNAL ORDER
Further allocations of expense are the responsibility of the purchaser’s Business Office.
Acceptance
This Memorandum of Understanding is hereby accepted and signed the ______ day of _________, 20___ and
shall remain in force until the loan has been fully repaid.
Any exceptions to this Memorandum of Understanding must be approved by the Senior Vice President for
Business Services and Assistant Treasurer.
Printed name of department head
Date
____________________________________________________
Signature
____________________________________________________
________________________________
Department Level Comptroller Designation Signature
Title
James S. Almond
Date
Senior Vice President for Business Services
and Assistant Treasurer
Routing:
Procurement Services, __________ (name) _____________________, confirm purchase details
Treasury Operations, provide amortization schedule
James S. Almond, approval or rejection
Treasury Operations, finalize amortization and notify:
Procurement Services, execution of Purchase Order, confirmation to Office of Treasury Operations,
Accounting Services and department
Accounting Services, fund setup and notification, cash transfer and recurring payment setup
Borrower, receive final schedule
Page 2 of 2
August 19, 2015
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