Versions Compared

Version Old Version 8 New Version 9
Changes made by

Freeman, Justin

Smithwick, Jen

Saved on

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.

Purchasing Authority Thresholds (from July 17, 2023Signature Authorities)

Position

Level

Purchasing Authority

President

1

- Any operating budget expenditures included in the annual operating budget approved by the Board of Trustees.
- Any amount for institutional contracts with designated funding source.
- Any amount for capital projects as long as any projects greater than $250,000 have prior approval by the Board of Trustees (or assigned Committee) as required by policy.

VP Business and Finance

2

- Up to $150,000 for operating budget expenditures included in the annual budget approved by the Board of Trustees.
- Up to $250,000 for institutional contracts and capital projects with designated funding source.
- Up to $500,000 for Board of Trustees approved capital projects.

Provost/CAO/Other VPs/Asst Provosts

3

Up to $75,000

Direct reports to Provost/ CAO/VPs/Asst Provosts

4

Up to $50,000

Named positions listed below reporting to Level 4

5

Up to $10,000

Named positions listed below reporting to Level 5

6

Up to $5,000

Named positions listed below (other roles determined to require purchasing authority)

7

Up to $2,000

...

Remember, once an approved Purchase Order is in place, no further approvals for Requests for Payment are required. Completing a Purchase Order may reduce administrative work for senior personnel in the organization.