A lease project for any facility over 20,000 square feet.

Capital projects that cost $5 million or more, or projects that meet the following criteria: have particularly costly elements, are undertaken on a tight design budget or short design schedule, have significant policy implications to a program, or involve state of the art technology.

Those lease agreements that extend beyond five years (the normal facility lease period). Leases beyond a five-year term will be considered when: the agency has a stable and consistent program to be housed, there is demonstrated economic advantage to the extended term, and the location meets facilities standards established by the Department of Enterprise Services (DES). A lease of up to 10 years may be negotiated by DES after consultation with OFM. A long-term lease of more than 10 years can be negotiated by DES and must be approved by OFM.

Accounts under the control of an agency with cash on deposit in a local bank account and requiring the signature of agency officials on a check for disbursement. Some local funds are on deposit with the State Treasurer as a matter of convenience or statutory requirement.

A legacy system is an old method, technology, computer system, or application program of, relating to, or being a previous or outdated computer system yet still in use.

Asset, liability, equity, revenue and expense accounts. Balance sheet accounts are entered directly on transactions and revenue and expense accounts default from the Spend/Revenue Categories of the Pay Component.

Lease purchase and lease development agreements are forms of financing contracts that enable a building to be built or substantially remodeled to state specifications by a private developer. In both cases, the developer finances the project and recovers the cost through least payments. By the end of the lease period, the state may exercise the option to purchase at a predetermined price. There is no tax exemption for the developer, and market interest rates prevail. Any funds required to pay the cost of leasedevelopment proposals should be requested through the operating budget.

Leases are contracts entered into by the state which provide for the use and purchase of real or personal property and provide for payment by the state through the operating budget. All financing contracts must be approved by the state Finance Committee. A lease must have the approval of OFM if it is for space under development or has an obligation of over $1 million annually, regardless of the length of the lease obligation.

For state purposes, a fund is referred to as an account. Refer to Account.

Refer to Workday Term Worktag: Fund.

A fund type used to report activities that provide goods or services to other funds, departments, or agencies of the state on a cost reimbursement basis. Internal service funds are used where the state is the predominate participant in the activity.