Expenditure Policy - 2, 3 and 4

2. Approval and Effective Date of the Policy

Approved by College Council on February 26, 2009. This policy is effective July 1, 2009 with earlier implementation allowed.

3. Knowledge of this Policy:

All Employees, Institutional Budget Managers and Supervisors, Procurement Office, and Business Office personnel should be knowledgeable of this policy.

4. Responsibilities:

This policy applies to all employees and other persons seeking reimbursement from the College regardless of the source of funding. It is intended to cover foreign and domestic travel as well as other business expenses incurred on behalf of the College. Responsibilities related to reimbursement or expenses include the following:

A. Employees:

  • Understand what is an acceptable expenditure that can be paid with institutional funds
  • Understand the requirements of proper documentation and procedures for payment or reimbursement

B. Procurement Office:

  • Develop business relationships with vendors to negotiate discounted pricing
  • Assist employees in securing goods and services
  • Monitor expense reimbursements and payment requests for proper supervisor approval

C. Business Office:

  • Develop policies related to accounting and external reporting, and in compliance with IRS regulations
  • Audit transactions for compliance

D. Institutional Budget Managers and Supervisors:

  • Determine if a request for payment is reasonable and appropriate
  • Determine if the expense is allowed by the funding source (if grant-funded)
  • Record the expenditure correctly in Banner