Authorized Signature Policy

Policy Statement

It is the policy of Adelphi University that appropriate internal controls and accepted best practices be utilized in the approval of all financial transactions.

Reason for Policy

The purpose of this policy is to promote the University’s internal control environment through specifying the persons who are authorized to approve transactions on behalf of their department, the criteria for delegating Approval Authority and the limitations on Approval Authority.

Who is Governed by This Policy

This policy applies to all members of the University Community who seek to approve a transaction on behalf of their department. This policy pertains to approvals for Check Requisitions (vendor payments), Purchase Order Requisitions, and Travel Expense Reimbursements only.

The following transactions require specific approvals, and considered to be outside the scope of this policy. Users should consult with other sources as appropriate:

• Employment Matters, including Payroll Transaction Forms: Consult with representatives from the Office of Human Resources for guidance with approval authority of employment matters
• Financing/Debt Agreements: Vice President of Finance
• Contracts and Agreements: All contracts and agreements must be approved by the Contract Office and signed by either the Vice President of Finance, the AVP of Accounting Operations and Reporting or Provost and Executive Vice President
• Capital Projects: All expenditures for approved capital projects may be processed and approved only by the Offices of Facilities Management or Project Management, depending on the nature of the project
• Gift Agreements: All gift agreements must be approved by the Advancement Office and other areas depending on the nature of the gift.

Policy

Authorized Persons and Approval Levels

All transactions must be approved by an Authorized person in accordance with this policy. Each Authorized person is designated as Level 1, Level 2, Level 3 or Level 4, as follows:

• Level 1: Up to and including $250,000 (*)
  • Executive Leadership
• Level 2: Up to and including $100,000
  • Chief Officers not included in Level 1
  • Associate Provosts
  • Assistant Vice Presidents
  • Deans
• Level 3: Up to and including $25,000 (**)
  • Department Heads and Directors
  • Other persons delegated Approval Authority by Level 1 or Level 2 persons
• Level 4: Up to and including $5,000
  • Persons delegated Approval Authority by Level 1, 2, or 3 persons

Approval Authorization Levels

(*) Amounts greater than $250,000 are limited to the contract or agreement value and may be subject to appropriate Board of Trustee approval.

(**) Interim positions (Deans, Vice Presidents) should be assigned an Authorization Limit not to exceed $25,000. Requests for limits above this level must be approved by the President for Interim Executive Leadership positions, or by the applicable Executive Leadership member for all other Interim positions.

Definitions

This policy does not have definitions associated with it at this time. Upon periodic policy review, this area will be evaluated to determine if additional information is needed to supplement the policy.

Procedures

Approval Processes

Each Authorized person is responsible for ensuring that he or she has the appropriate Approval Authority to approve a transaction, and that such approval and the transaction itself complies with other policies of the University. If an individual is unsure whether they have Approval Authority, or what their approval limit is, they should contact the Office of the Controller before approving any transactions.

All purchase order requisitions, vendor payments, and travel expense reimbursements must adhere to the policies and procedures of the Purchasing and Finance departments, as available in the Finance & Administrative Reference Guide. In addition, the Authorized person is ensuring that adequate budget funds are available in the department’s approved operating budget.

Each Authorized person approving a transaction must affix his or her own signature to any documents that are required to be signed. Use of stamps, signing or affixing someone else’s name, and using someone else’s login to affix an electronic signature or approval, are strictly prohibited.

Delegation of Approvals

Individuals approving transactions during the absence of a primary approver (vacation, sick or personal leave) must have the appropriate level of signing authority for the transaction being approved. Employees may not delegate approval down if the person being delegated to does not have the appropriate level of authority. Additionally, anyone approving during a time of absence, even temporarily, must have an approved Authorized Signature Form on file with the Office of Finance and Operations.

Maintenance of Authorized Signature Forms

Each school, college, or department of the University is responsible for advising the Office of Finance of each person under its auspices with Approval Authority by completing an Authorized Signature Form.

The Office of Finance will maintain a master list for each school, department, or operating unit. At least annually, the Officer of Finance will require certification that its master list of Approval Authority is complete and accurate