|Policy Owner: Financial Management|| |
This section provides the University policies and procedures on expenditures for purchases of goods and services. (Travel expenditure policies and procedures are discussed separately in section 14, Travel.) Expenditures for goods and services are generally initiated using one of the following methods:
- Purchasing Card, for direct small dollar purchases (less than $5,000) via Visa.
- Requisitions, for initiating purchases of goods or services from independent contractors and vendors outside the University.
- Disbursement Voucher, for reimbursements, establishing and settling Operational advances and payment of invoices from contracted vendors.
- Internal Billing, for initiating purchases of goods or services from other University departments.
- Request for Motor Pool Vehicles, for requesting use of University vehicles from the Motor Pool.
Regardless of which method is used to initiate a purchase, University expenditure policies, procedures and exhibits in this section must be followed. If you have any questions regarding the policies, procedures and exhibits in this section, contact the Financial Services Office.
Purchases greater than $5,000 should always be initiated using a Requisition to ensure that State purchasing guidelines are followed.
Purchases under $5,000 are considered small dollar purchases. For small dollar purchases, departments should work directly with the vendors using one of the alternatives to the Requisition whenever possible. Using these alternatives generally is more efficient and cost effective for the University and provides:
- Faster receipt of merchandise based on immediate payments from the Purchasing Card
- Improved relationships with vendors
- Consolidated payment through Accounts Payable
- Elimination of the need for certain transactions to flow through Purchasing
- Simplified procurement process
The following provide guidance for selecting the most effective method:
- First, determine if the item to be purchased falls into the restricted category. If yes, proceed with a Requisition
- If the item is not restricted, continue with the Small Dollar/Direct Purchase Procedures outlined in section 9.18.