The university finances capital projects using many resources such as tax-exempt debt, taxable debt, and lines of credit. The Internal Revenue Service (IRS) has strict compliance guidelines for when the university is permitted to use tax-exempt debt. In general, the university is required to report to the IRS if the project financed with tax-exempt debt is being used by an external party. As defined in the Private Use Policy and Guidelines, an external party is defined as "a person other than a member of the university faculty, staff, or student body."
Prior to borrowing any funds, each unit is required to comply with the Private Use Policy and Guidelines and submit a completed private use questionnaire to the University Treasurer's office. In addition, each unit is required to complete annually a private use questionnaire for each building they occupy on campus.