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 is 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 be an approver on 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.

• One level of approval is required unless:
  • The president or a vice president deems a second level of approval is necessary; or
  • The purchase of goods or services exceeds $5,000, regardless of available budget.
• Any deviations from this policy will require approval by Senior Staff.
• At any time that the circumstance arises in which the requestor or approver is unavailable for an extended period of time, written authorization to temporarily assign a different requestor or approver must be submitted to the comptroller’s office.
• Under no circumstance should an approver with electronic approval authority release their password.

Communication

This policy is distributed via the Administrative Advisory Council and the University Policies webpage.