Subject Area: Procurement/Disbursement
Responsible Office: Financial Services
Sponsor: Chief Financial Officer
Originally Issued: March 1994
Revised: January 1995, February 2010
Refer Questions To: Shared Services Help Desk, 773-702-5800
Purpose: To define responsibilities for reviewing and approving non-payroll expenditures.
An individual who reviews and approves non-payroll expenditures must have the authority to commit University funds. Signature authorization numbers and Financial Accounting System (FAS) attributes identify individuals who have authority to commit University funds. (See Financial Policy No. 1201 for policy concerning the Authority and Responsibility for Procuring Goods and Services).
An individual cannot approve his/her own reimbursement or payments to his/her personal credit card accounts. It is highly recommended that reimbursement payments be approved by the invididual’s supervisor.
The reviewer/approver is required to make a reasonable and prudent review of the propriety of the expenditure to ensure compliance with University policies.
The reviewer/approver must ascertain that the documentation is properly completed, accounts charged are correct, and the procedures and documentation requirements, as defined in various users guides of Financial Services, are followed. Proper documentation includes original invoices, packing slips, register tapes, signed credit card receipts, or other documentation as may be appropriate to provide a clear explanation as to the purpose of the expenditure. Photo copies of receipts or unsupported charge card receipts are not acceptable documentation unless they are submitted in lieu of originals with appropriate documentation explaining why the original receipts are not available. Routine explanations for lost receipts are not acceptable.
The signature of the reviewer/approver indicates that he/she has followed the above approval policy.