- Responsible Department: Business Affairs – Accounting
- Approving Body: President/Cabinet
- Effective Date: 15-DEC-2014
- Review/Revision Date: 12-SEP-2024
PURPOSE:
To establish thresholds for approval of accounts payable checks and invoices.
POLICY:
Accounts Payable checks with invoices of an amount equal to or greater than $1,000 require approval. Accounts Payable checks in an amount greater than $7,500 require approval, even if each associated invoice is less than $1,000.
All procurement card purchases of an amount equal to or greater than S1,000 require approval.
All approvals, as stated above, are to be made by the Executive Director of Accounting or their designee.