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KSRE Employee Resources

EXTENSION ADMINISTRATIVE HANDBOOK - USE OF EXTENSION FUNDS

Chapter 2 Section A6

Lease-Purchase Requirements

In order to meet requirements of the Cash Basis Law, local Extension units should use the following statement in any written agreements for all lease-purchase situations:

The                                                (insert name of local Extension unit) is only obligated to make payments from funds budgeted and appropriated for that purpose during the current fiscal year, pursuant to K.S.A. 10-1116b.  The                 (insert name of local Extension Unit) obligation to make any payments will constitute a current expense, and must not be construed to be a debt of the                                (insert name of local Extension unit) in contravention of applicable constitutional and statutory debt limitations.