Financial Policies and Procedures

*Accounts Payable check pick-up*

Standard pick-up times for accounts payable checks are Monday through Friday, from 9:00 A.M. through 4:30 P.M., unless special arrangements are coordinated with the Accounts Payable area in advance.

*Purchase Approval Limits*

  • 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 Senior Vice President of Business Affairs

  • EVP’s and Academic Deans have approval limits up to $ 49,999.99

  • 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.

This is for travel dates after 7/1/19.  For example, is someone travels 6/25/19 through 7/5/19, six days of meals (6/25/19~6/30/19) will be reimbursed at the previous rates, and five days of meals (7/1/19~7/5/19) will be reimbursed at the new rates.

Additional Procedures related to Financial Policies