Payment Reason Code = V (6505-6508, 6530) Rental of Space (Rooms) or Items (Uniforms, Table, Tablecloths, etc.) = K (6500, 6503, 6515) RNT1 Rentals and Leases Level Budget Pool (budget only; no actuals) 6500 Equipment/Space/Other One-Time Rentals: amounts paid for short duration rentals for which a single invoice is received (no recurring payments); can be used for real property/space and equipment, including motor vehicle rentals. 6503 Rent and Lease Agreements – Short-Term: amounts paid for rentals/leases where the agreement or contract is for up to 1 year. Use this object code for agreements that include recurring payments scheduled for up to 1 year; can be used for real property/space and equipment. 6505 Rent and Lease Agreements – Long-Term: amounts paid for rentals/leases where the agreement or contract is for more than 1 year. Use this object code for agreements scheduled for more than 1 year; includes service and other contracts/agreements where UConn is using an underlying physical asset. Can be used for real property/space and equipment. CAM and utility charges should be separated out using 6506 and 6507. 6506 CAM Charges (LT Rent and Lease Agreements): amounts paid for CAM (Common Area Maintenance) charges associated with Long-Term Rent and Lease Agreements. 6507 Utilities (LT Rent and Lease Agreements): utilities paid as part of a Long-Term Rent or Lease Agreement. 6508 RE Taxes (LT Rent and Lease Agreements): real estate taxes paid as part of a Long-Term Rent or Lease Agreement. 6515 Uniform Rental: amounts paid for rentals of uniforms. 6530 Off-Site Facility Rental (for Sponsored Programs use only)
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