(Amended 10/07; 2/11)
- Licensable vehicles operated by, purchased for, leased, loaned, or donated to University colleges, units, or departments are to be owned or/and managed by the University's Fleet Services unit. Exceptions to this policy can be made by the Director of Business Services and Assistant Vice President for Finance and Operations.
- All new and used vehicle purchases made by The University of Iowa and by University of Iowa Hospitals and Clinics are to be conducted by Fleet Services. Purchased vehicles will be leased back to departments for a fee that covers anticipated operating costs including, but not limited to: the cost of purchase less projected resale value, insurance, maintenance, administration, licensing, and any special fees associated with the vehicle's ownership and or operation. Projected depreciation of vehicles and/or components will be based on available data and may not cover the full cost of ownership when the vehicle reaches the end of its projected life. In these cases Fleet Services reserves the right to charge departments the difference between the projected value and actual sale price.
- Donated vehicles are to be inspected by Fleet Services prior to acceptance or receipt in order to ensure safety, viability, and value. These vehicles are to be part of the University's fleet and be managed by Fleet Services. Donated vehicles will be leased back to departments for a fee that includes anticipated operating costs including insurance, maintenance, administration, licensing, and any special fees associated with the vehicle's ownership and/or operation. The sale of donated vehicles are to be managed through Fleet Services with the proceeds, less costs of disposal and any accumulated charges, going to the department.
- Exceptions to the above rate-making practices can be made by the Director of Parking and Transportation.