effective 11/2007
| Policy Name: Approval Signatures
Effective Date: Historical Revised Date: 11/01/07 Recommended by: William W. Wood Approved by: PAC |
POLICY:
It is the College’s policy to require approval signatures at various levels of authority before making any commitment to purchases and/or payments.
PURPOSE:
To provide in a formal manner a system of approval for purchases and/or payments.
PROCEDURE:
All requests for purchases and/or payments MUST be accompanied by the appropriate documentation, such as an invoice, letter or memo of authorization, etc.
Additionally, BEFORE any requests for purchases or payments are made, approval signatures MUST be obtained as follows:
- For requests less than $1,000, unless determined otherwise by the Divisional Vice President, only the department head’s signature is required.
- For requests from $1,000 to $5,000, the department head’s signature and respective Divisional Vice President’s signature are required.
- For requests over $5,000, the department head’s signature, respective Divisional Vice President’s signature and Vice President for Administrative and Financial Services or President’s signature are required.
The following approval authorities have been delegated:
Director of Human Resources: payment of employee withholding and college contributions to our several benefits plans (e.g., health insurance, TIAA-CREF, dental, vision, moving allowances, flex spending, etc.).
Controller: student refunds up to $10,000, payroll deductions (garnishments, etc.).
Director of Facilities Operations and Services: routine utilities (e.g., gas, electric, fuel oil), departmental cell telephones.
Approved blanket purchase orders do not require further authorization.
| Policy Name: Approval Signatures
Effective Date: Historical Revised Date: 11/01/07 Recommended by: William W. Wood Approved by: PAC |
To obtain a list of approval authorizations contact the Associate Vice President and Controller at 7748.
Direct questions regarding the use of this policy and/or procedure to the Associate Vice President and Controller at 7748.