Common use of ITEM DESCRIPTION Clause in Contracts

ITEM DESCRIPTION. The expenses allocated using the Financial System allocator are primarily for processing general ledger transactions and for computer support to the system. Allocation Method: Expenses are allocated based on the volume of transactions processed for the cost center as a percent of the total transactions processed for all cost centers. *Accounts Payable - Allocation Item Description: The expenses allocated using the Accounts Payable allocator are primarily for processing accounts payable and for computer support to the accounts payable system. Allocation Method: Expenses are allocated based on the number of invoices processed for the cost center as a percent of the total number of invoices processed for all cost centers. ***Asset Management - Allocation Item Description: Costs allocated using the Asset management allocator are primarily for maintenance and reporting on the total fixed assets.