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… Continue reading BA411_Accounts Payable Check Approval Policy

Responsible Department: Business Affairs – Accounting Approving Body: President/Cabinet Effective Date: 15-DEC-2014 Review/Revision Date: 12-SEP-2024 PURPOSE:  The purpose of this policy is to clarify the classification and management of private funds collected by university-affiliated groups or clubs at Western New Mexico University (WNMU). It establishes that these funds are considered private and are not subject to the… Continue reading BA404_Policy Statement on Agency Funds

Responsible Department: Business Affairs – Accounting/Grants Approving Body: President/Cabinet Effective Date: 06-NOV-1997 Review/Revision Date: 12-SEP-2024 PURPOSE: The purpose of this policy is to define the rights and obligations of faculty, staff, and students involved in privately and governmentally sponsored projects, including grant and contract-funded initiatives, at Western New Mexico University (WNMU). POLICY: This policy aims… Continue reading BA403_Sponsored Projects Policy

Responsible Department: Business Affairs – Accounting Department Approving Body: President/Cabinet Effective Date: 15-DEC-2014 Review/Revision Date: 12-SEP-2024 PURPOSE: To provide guidance for the management and control of the university’s capital and non-capital assets including its off campus learning centers. POLICY: EQUIPMENT/PROPERTY ACQUISITION Procurement of equipment and property should be in accordance with WNMU’s Procurement and Reimbursement… Continue reading BA402-Fixed Asset Policy

Responsible Department: Business Affairs – Accounting Department Approving Body: President/Cabinet Effective Date: 15-DEC-2014 Review/Revision Date: 12-SEP-2024 PURPOSE: To recognize the appropriate capitalization for newly constructed buildings, renovations and land improvements. POLICY: Upon the completion of any new building, the total construction amount will be capitalized and depreciated over a 25-year period. Renovations will be capitalized… Continue reading BA401-Capitalization Buildings Policy