Expenditure and Disbursement Policy

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Policy:     
The purpose of this policy is to outline the guidelines for expenditure and disbursement processes at PNWU and to outline regulations for expenditures and disbursements funded by intramural and extramural grants.  

All disbursements will be handled by the Office of Finance. Recipients are required to adhere to the procedures set forth by the Office of Finance and policies set forth by the Office or Scholarly Activity (OSA) when disbursements relate to sponsored projects. 

Finance shall follow generally recognized internal control standards for processing expenditures. 

All vendors shall be valid providers of goods and services as determined by the Office of Finance. 

Purchasing authorization is granted only to certain employees as approved by the applicable budget director who are authorized to purchase goods and services on behalf of the university. 

Purchase orders: a pre-approved purchase order is required for all purchases greater than $2,500, with the exception of routine expenditures (as approved by Office of Finance) without an underlying contract, lease, or other standard invoice. Administration may determine a list of expenditures that do not require a purchase order (PO). 

Budgeted purchases less than $10,000 shall be authorized by the applicable budget director or Controller. 

Non-budgeted purchases greater than $5,000 shall be authorized by the applicable budget director, their supervisor and the CFO. 

All purchases greater than $50,000 require the President’s approval. 

Any expenditure greater than $100,000 that causes the University to be over budget in total by greater than $100,000 will be reviewed by the Finance Committee for validity and/or shall be approved via a budget revision. 

Authorization Summary 

BOT Finance Committee	Expenditures> $100,000 that cause the University to be over budget in total by > $100,000.
President	Expenditures>$50,000
COO/CFO	Budgeted expenditures > $10,000 and non-budgeted expenditures> $5000
Budget Director	Budgeted expenditures < $10,000 and non-budgeted expenditures< $5000

Check signing denotes secondary approval of an expenditure. 

The Budget Director and CFO or COO has the right to deny reimbursement for any expense deemed non-business or not pre-approved. 

PNWU may deny reimbursement for any expenses submitted more than 30 days after occurrence, or beyond the University’s ability to collect from an appropriate secondary source (i.e., grant funds), or if illegal or contrary to PNWU’s nonprofit mission. 

Procedure:  
Expenditure and Disbursement Procedure 

Related Documents: 
N/A 

 

 

Policy Resources

• Policy Development and Approval Training
• Establishing and Creating University Policies and Procedures (Policy)
• Policy Development & Approval Procedure
• Policy Development & Approval Diagram
• Policy Justification Form
• Policy Template (password protected)
• Procedure Resources (password protected)
• PNWU Alumni Association Bylaws
• COM Bylaws
• PNWU Bylaws

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For assistance with policies and procedures contact:

Lori Fulton
lfulton@pnwu.edu