V803 PURCHASING AND INVENTORY PROCEDURES
These procedures are published in order to provide all faculty and staff the guidelines necessary for financial control of departmental budgets. The procedures are to be used for all expenditures of a departmental budget except for salaries and wages, as these are fixed expenditure items.
A. General Guidelines
- When feasible purchases of supplies and equipment should be made through the purchase requisition process. Purchases from the Bookstore, Faculty Material Center and small purchases of supplies may be made without a purchase requisition. However, because of the lack of financial control on departmental budgets resulting from this type of expenditure, the University places primary responsibility for payment of any debt incurred through this process on the individual making the purchase. The University will pay for these debts only to the extent of the departmental budget.
- Purchase requisitions may be obtained from the Business Office.
- Completed and properly approved purchase requisitions may be submitted to the Business Office for processing. Purchase requisitions with missing information, such as estimated unit price, accounting codes or proper approvals will be returned to the originating department.
- A copy of the purchase requisition, Purchase Order and a receiving report will be returned to the department. Upon receipt of the material ordered, the receiving report should be completed and returned to the Business Office, this serves as the authorization for the Business Office to pay for the material.
B. State Board of Higher Education Purchasing Procedures
Refer to SBHE policy 803.1
- All items of equipment, with a value of 50 or more, should be properly tagged and identified. These items will be listed on an inventory control printout and must be periodically accounted for.
- The Business Office must be notified if these items are moved from one location to another or of any change in status.
Sponsored by: Vice President for Business Affairs
Reviewed: Winter 1996
Reviewed: Winter, 2004