Banner Finance Requisition Approval Policy

Purpose

To develop minimum requirements for obtaining goods and services through the requisition process and to ensure appropriate levels of electronic approvals are established.

Scope

These policies and procedures are applicable to all University employees who create or approve requisitions.

Key Terms

• Requestor: An employee who is approved to enter requisitions.
• Approver: An employee who is authorized to approve requisitions.
• Authorization: Delegating authority from one employee to another.

Minimum Standards

An authorized employee who enters a requisition for the purchase of goods or services cannot approve the requisition.

Audit

By electronically approving the requisition, the approver implies that all supporting documentation has been reviewed and the transaction is appropriate, accurate, and complies with all policies.

Approval Requirements

• A single level of approval is required except when:
  • The president or a vice president determines a second level of approval is necessary; or
  • The purchase amount exceeds $5,000, regardless of budget availability.
• Any exceptions to this policy must be approved by the Executive Leadership Team.

Temporary Reassignment

If the requestor or approver is unavailable for an extended period, written authorization to temporarily assign another requestor or approver must be submitted to the comptroller.

Security

Approvers must never share or release their electronic approval passwords under any circumstances.

Communication

This policy is distributed via the University Policies webpage.