Financial Policies and Procedures
*Accounts Payable check pick-up*
Please contact Accounts Payable (accountspayable@cofc.edu) in advance to coordinate check pick-up.
*Purchase Approval Limits*
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All financial transactions (All purchases, EA's, IDT's, JE's, TA's, Budget Transfers, etc.) that are $ 50,000 or above must be approved by the Executive Vice President for Business Affairs / CFO
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EVP’s and Academic Deans have approval limits up to $ 49,999.99
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All others have limits up to $ 4,999.99, and should be noted on the Index/FOP Access Form for each index
Financial Policies
NOTE: Effective 7/1/19, the state approved a change in the meal reimbursement rates. In-state has increased from $25/day to $35/day, and out-of-state has increased from $35/day to $50/day. See Travel Policy and Travel Reimbursement Form for reimbursement break-down by meal.
- 2.2.1 - Scholarships, Fellowships, Stipends, Prizes, and Awards
- 2.2.2.1 - Regular Disbursements
- 2.2.2.2 - Prepaid Expenses
- 2.2.3.3 - Petty Cash Funds and Change Funds
- 2.3.2.1.1 - Taxpayer Identification
- 2.5.1 - Travel
Additional Procedures related to Financial Policies
- 2.2.2.1.5 - Capital Improvement Projects
- 2.2.2.1.6 - Fiscal Year Closing
- 2.2.2.1.7 - Intradepartmental Transfers (IDTs) - Internal transactions between departments
- 2.2.2.1.8 - Invoice Processing Schedule, Inquiries, Check Writes/Distribution
- 2.2.2.1.9 - Reason for Return of/Delayed Processing of Invoices - See Invoice/Travel Expense Rejection Form