The bank or financial institution that accepts payments for the products or services on behalf of a merchant. Wells Fargo is the University of Minnesota's acquiring bank.
Glossary of Terms
Acquisition Cost - Constructed Equipment
Includes costs of materials and University internal service centers used in the course of construction. University payroll expenses, other than those included in internal service centers charges, are not included in the cost of constructed equipment.
Acquisition Cost - Donated Assets
The fair market or appraised value at the date of the gift. If market value or appraised value is not available, the gift will be recorded at estimated depreciable value.
Acquisition Cost - Purchased Equipment
Includes the invoice price and the cost of any modifications, in transit, insurance, freight (to or from the University) and is reduced by any trade-in. Installation is also included when those costs can easily be identified with the equipment acquisition.
Files needed to support the current business activity of a department. The active period may be determined by record category (see the University-wide Record Retention Schedule).
Graduate students who register every fall and every spring (i.e., continuously registered) are considered active.
Activities Preparatory to Research
Activities performed in anticipation of research or to establish the feasibility of research where access to information may be granted for the purpose of the review, but no identifying information may be taken away in any form from the health care component.
Charges must be based on actual consumption of the product or service being provided, or other reasonable basis as approved by Internal Sales Compliance Office. A flat monthly fee that is assessed to a customer regardless of the level of service that is actually provided is not typically sufficient to meet this requirement.
Additional Environmental Assessment
Additional environmental assessments will include:
- Determining the extent to which hazardous substances, pollutants, or contaminants are present
- Characterizing for proper identification, handling and disposal potentially contaminated demolition debris.
- Proposing clean up standards and the basis for those standards.
Additional Environmental Assessment Report
This document presents the results of a property investigation designed to determine if potential sources of contamination identified during the Phase I Environmental Site Assessment or Pre-Construction Environmental Assessment have resulted in a release or threatened release of hazardous substances, contaminants or pollutants to the soil, surface water and ground water on the property. Phase II Investigations will be performed in manner that is consistent with the ASTM E 1903 Guide for Environmental Site Assessments: Phase II Environmental Site Assessment Process.