T3030 Appendix 2 Equipment Master Lease Payment Process-Flow Chart 1.29.26.pdf

This document is an appendix to a contract related to equipment master lease payment procedures between a State Agency, the Office of Public Finance (OPF), a Lessor, and Third-Party Suppliers. The appendix outlines the operational flow for processing lease payments under the Equipment Master Lease program, establishing a clear procedural sequence for invoice authorization, payment preparation, and fund distribution. The process involves multiple stakeholders coordinating to ensure timely and accurate payment processing for equipment lease services.

The payment process flow requires Third-Party Suppliers to submit invoices to the State Agency, which then authorizes OPF to process payment. OPF is responsible for preparing payment documents and completing amortization schedules along with required IRS forms (either 8038G or 8038GC). Once OPF accepts and signs the payment documents, they are sent overnight to the Lessor, who must complete payment to Third-Party Suppliers within four days via check or wire transfer. This streamlined process ensures compliance with IRS requirements for tax-exempt lease financing while maintaining efficient cash flow management for equipment procurement under the master lease program.