Capital Assets, Purchasing and Initiating a Purchase

Policy Statement

University purchasing policies and procedures apply uniformly to all funds administered by the University, whether they are unrestricted or restricted funds. All funds deposited with the University must be expended according to prevailing University policies.

Reason for Policy

This policy establishes the fundamental requirements of the university’s procurement system that shall guide the responsible expenditure of university funds Individuals within the university community are also expected to act as stewards of university funds when making purchases. Responsible expenditure of university funds requires the proper consideration of price, quality, and reliability, as well as appropriate service and delivery terms, and compliance with donor and sponsor requirements.

Who Is Governed by this Policy

Faculty and Staff

Policy

Refer to the “Purchasing Policy” (page 35) of the Financial and Administrative Reference Guide (FARG).

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.

Forms

Financial and Administrative Reference Guide Forms:

• Request for Bid (PDF)
• Sole Source Justification (PDF)
• Purchase Order Requisition (PDF)
• Check Requisition (PDF)
• Partial Delivery Report (PDF)
• Change Order (PDF)
• Travel Approval (PDF)

Related Information

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

Document History

• Last Reviewed Date: March 17, 2023
• Last Revised Date: March 17, 2023
• Policy Origination Date: Not known

Who Approved This Policy

Michael Rhattigan, Chief Financial Officer