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Category:
Hospitals / Clinical Services


Responsible Office:

Procedure Title:
Tax-Exempt Equipment Leasing Program (TELP)

Document Number:
4301

Effective Date:
September 01, 2004


This procedure item applies to:
Health Science Centers
University Hospitals

Table of Contents
Summary

Process
Forms
Related Procedures
Other Related Information
Authority
History
Appendices

Summary
The State University of New York’s (University) University hospitals must purchase new and/or replacement equipment on an on-going and continuous basis to ensure patient safety and support the needs of the hospitals’ strategic plans. This equipment will be used in the provision of patient care in each of the three University hospitals. Since 1997, the hospitals have financed the purchase of this equipment through the Tax-Exempt Equipment Leasing Program (TELP) and administered by the Dormitory Authority of the State of New York. To access TELP program funds, certain administrative procedures must be completed before the funds are available for use. These procedures include the bidding and selection of a vendor, preparation of the bond documents and obtaining the approvals of state officials, the State University of New York Board of Trustees and the Board of Directors of the Dormitory Authority. The procedure below details the necessary steps.

Process

I.   TELP Processing

The State University of New York’s (University) University hospitals must purchase new and/or replacement equipment on an on-going and continuous basis to ensure patient safety and support the needs of the hospitals’ strategic plans. The hospital’s financial administration is required to prepare a detailed equipment list of items to be funded using the TELP Program on Form A (for new equipment) or Form B (for replacement equipment).

II.   Escrow Monitoring


Forms

FORM A - TELP New Equipment Listing

FORM B - TELP Replacement Equipment Listing


Related Procedures

There are no related procedures relevant to this procedure.


Other Related Information

There is no other information relevant to this procedure.


Authority

Chapter 83 of the Laws of 1995 (Health Care Financing Consolidation Act).

New York State Medical Care Facilities Finance Agency Act as amended in 1997


History

To ensure that the State University of New York hospitals provide an environment for the safe and effective care of patients, it is necessary to acquire equipment either to provide new or improved services or to replace major moveable equipment that is either technologically outdated or requires frequent repair. Prior to 1997 the University hospitals accessed capital to acquire moveable equipment through New York State’s Certificate of Participation Program (COPs). However, access to this program ended leaving the University hospitals with no ability to fund equipment acquisition. In 1997, legislation was enacted authorizing the University hospitals to access the Tax-Exempt Equipment Leasing Program (TELP). Each of the University hospitals has successfully utilized this program to finance equipment at very competitive rates.


Appendices

There are no appendices relevant to this procedure.