Contract Payment/Leases

Contract Payment/Leases start with completing a Financial Impact Statement (FIS). Once completed this form must be submitted along with the contract. The FIS is available on University Counsel’s website at

The FIS and the contract commitment process enable the University to identify, track, and manage all contracts. Once the contract/lease is approved by Legal, University Counsel will assign a contract number. If your contract is over $2000, your contract will be assigned a “P" Purchase Order number, which is generated by Purchasing. The accounting information you submit on the Financial Impact Statement (FIS) will be used to create the purchase order.

Once contract/lease has been assigned a purchase order number, the ordering department must submit a payment request referencing the purchase order each month in order for vendor to be paid for recurring monthly payment. It is important these requested are submitted to accounts payable within 10 days from payment due date. Please note: Payments are not automatically produced.