Lease vs Purchase Analysis
State law requires that any state agency or institution that acquires the use of an asset as the result of a lease arrangement shall prepare a written analysis documenting the decision to acquire the use of the asset. The agency or institution shall make the analysis available to the auditor for review during the audit for the fiscal period during which the decision was made. (NDCC 54-27-21.1.)
See OMB Fiscal Policy 312. These must include the terms of the lease, including provisions for extension or renewal. View the lease vs purchase instructions and lease vs purchase cost/benefit analysis form. For questions, contact email@example.com or 701.328.2740.
Higher Education Institutions see State Board of Higher Education Policy 804 Equipment and Personal Property Leases.