Approver Responsibilities
Responsibilities Include
The purpose of this policy guideline is to define the responsibilities of Department Chairs, Line Officers and Department Managers who approve departmental budgets and financial transactions.
Approving
- Journal entries
- Purchase requisitions
- Pcard expenditures
- Petty cash reimbursements
- Payable invoices
- Employee reimbursements
- Standard engagement contracts
- Travel expenses
- Deposits (cash, credit card and checks)
Tracking budget
Verifying debarred vendors are not engaged when procuring equipment over $25,000 when spending funds from federal grants (Grant PI’s only)
- Refer to the Debarred Vendor Policy to verify
Approving includes verifying:
- Expenditure is appropriate
- Money is available in budget
- Correct FOAPAL, paying close attention to account code
- Original receipts and documentation are attached
- Original invoices (not copies) are submitted for payment
- Forms are complete and valid descriptions are included
- Refer to IRS pub 463 for travel & entertainment reporting
Tracking budget includes:
- Reviewing budget reports
- Investigating unknown transactions
- Initiating journal entries for corrections and/or funds transfer
Guidelines for Designated Approval Levels by Dollar Amount and Job Title
- $500 (Academic Coordinator, Administrative Assistant)
- $2000 (Academic Chair, Administrative Specialist)
- $5000 (Administrative Manager, Administrative Supervisor)
- $10000 (Assistant Director, Director, Assistant V.P.)
If you need to change your access and approval complete the Finance Access & Approval form.