This policy establishes guidelines for Approval Authority for the following University commitments and transactions:<\/p>\n
This policy applies to all contracts, commitments or other obligations to which the University is a party and to all funds administered by the University. Nothing in this policy limits the authority of the Board of Trustees. Persons exercising signing authority must ensure that all requisite approvals, whether by the Board or its designee(s), have been obtained prior to execution, or that execution is expressly subject to obtaining the necessary approvals.<\/p>\n
Further, this policy does not replace, in whole or in any part, the policies and methods for procuring goods or services, or capital projects, under the University\u2019s Procurement Policy.<\/p>\n
All 精品成人福利在线 University employees (i.e. staff, faculty, administrative officers, both full\u2010 and part\u2010 time)
\nare required to review and comply with this policy.<\/p>\n
For purposes of this policy:<\/p>\n
\u201cCommitment Approval Authority\u201d<\/strong> means the authority to commit the University to legally binding contracts with external parties.<\/p>\n \u201cContract\u201d<\/strong> means any legally binding agreement between two or more parties, which commit the resources of the University or create obligations on behalf of the University. Contracts or commitments may take different forms or titles, including but not limited to, agreement, memorandum of understanding, memorandum of agreement, letter of intent, cooperative or affiliation agreement, proposal, purchase order, notice of award, etc. These or other, similar documents that commit the University are considered contracts and shall be entered into only in accordance with the terms of this policy.<\/p>\n \u201cCost Center Manager\u201d<\/strong> means the individual designated as responsible for management of an account or cost center within the University\u2019s financial systems. Cost Center Managers are designated by the respective division head (such as a Vice President, Dean, or equivalent) and are assigned the role by Workday Operations at the time of appointment.<\/p>\n \u201cDisbursement Approval Authority\u201d<\/strong> means the authority to approve the release of funds from University bank or investment accounts whether by check, wire, electronic funds transfer, or other available mechanism.<\/p>\n \u201cRequisitioner\u201d<\/strong> means an individual who orders goods or services for business\u2010related purposes on behalf of his or her department.<\/p>\n \u201cSigning Authority\u201d<\/strong> means legal authority delegated to specific positions within the University by the Board of Trustees to execute contracts or other documents on behalf of the University. This encompasses both commitment and disbursement approval authorities.<\/p>\n An individual has authority to execute contracts on behalf of the University if any of the following apply:<\/p>\n The following University Officers are authorized as signatories on University contracts and related documents:<\/p>\n The authorized approvers are further defined per type of contract as follows:<\/p>\n Approvals for contracts and related documents that involve the procurement of goods and services are delegated as defined in the table below. The next level of authority may sign a University contract and related documents for a lower amount. Contracts involving the procurement of goods and services must follow all policies and procedures as outlined in the Procurement Policy:<\/p>\n <\/p>\n Approvals for contracts and related documents for Academic Affairs that do not involve the procurement of goods and services by the University (such as affiliation agreements, agreements of cooperation, acceptance of grant funds, research agreements, or other similar agreements) may be signed by the President, Chief Operating Officer and Senior Vice President; or the Provosts and Senior Vice President for Academic Affairs or their respective designee.<\/p>\n All contracts are subject to review by the University Counsel\u2019s office as well as any other required approvals per University Policy. For additional information on procedures for obtaining legal review, please see Procedures for Obtaining Legal Review. Once all applicable approvals are received, the contract may be submitted for signature.<\/p>\n Waiver of Advertising procurements (and all other procurements of goods and services) must follow all policies and procedures as outlined in the Procurement Policy. All waivers of advertising and procurement requests are submitted to Procurement Services in which the final approval has been delegated as defined in the table below. All waivers of advertising that are delegated are reported to the Board of Trustees at the next regular meeting:<\/p>\n <\/p>\n All approvers, as defined in the tables below, are required to review the nature of the expense, suitability of the spend category, the payee, and the amount, in order to validate the appropriateness of the transaction. In all cases, submission and approval of an expense item is subject to adherence to any applicable University policies and procedures, as well as to any funding terms and conditions required by external entities.<\/p>\n The primary method to procure goods or services at 精品成人福利在线 University is through a purchase order. Before a purchase order is initiated in the University\u2019s financial system, the Requisitioner must follow all policies and procedures as outlined in the Procurement Policy. As noted in that policy, goods cannot be ordered, nor services rendered, prior to the issuance of a purchase order. Once a requisition has been initiated in the financial system, it must be approved by the department or cost center manager and the Procurement Group as follows:<\/p>\n Additional approvals may be required for certain types of goods and services as defined in the Procurement Policy and as noted below in Section 8.<\/p>\n After a purchase order is issued, the Requisitioner must enter a receipt for the goods and services in the financial system before payment can be made. All invoices related to the purchase order should be directed to the Accounts Payable (AP) unit of the University Controller\u2019s office for entry into the financial system. No additional approvals are required, other than any applicable Funds Disbursement Approval as noted below.<\/p>\n Supplier payments not requiring a purchase order are generally limited to incidental purchases of certain goods or services such as memberships, subscriptions, and express shipping, for which purchase orders are not issued or are not practical, or for limited exceptions as noted in the Procurement policy. For invoices without a purchase order, Cost Center Managers are authorized to provide approval, up to the amount indicated in the table below. A Requisitioner for a particular good or service cannot also approve the same request. In instances when the Approver is the individual submitting a requisition, approval by the next level of authority is required. Invoices with values greater than the Cost Center Manager\u2019s threshold amount are subject to the additional approvals as indicated:<\/p>\n In addition to the functional approvals noted above, all supplier payments without a purchase order require final review and approval by the Accounts Payable department. AP is responsible for review of the account and expense category codes, documentation, and policy compliance, including the appropriateness of the supplier payment without a purchase order.<\/p>\n Regularly scheduled and off cycle payroll payments are subject to approval by the Director of Payroll and deemed approved for funds disbursement purposes.<\/p>\n Approvals of individual P\u2010Card transactions are governed by the P\u2010Card Policy. Spend authorizations on the Travel Card are subject to the University Travel and Expense Reimbursement Policy.<\/p>\n Reimbursements of travel and expenses, for employees or other authorized parties, are subject to the University Travel and Expense Reimbursement Policy.<\/p>\n Student and parent refund checks are processed in accordance with the University\u2019s Refund and Withdrawal Policy and are deemed approved for funds disbursement purposes once released for payment by the Office of Student Accounts.<\/p>\n Ad Hoc Payments are generally strictly limited and must be initiated in the financial system by the Accounts Payable department or through direct system integrations. Certain payroll related supplier payments may be processed through the Ad Hoc Payment process in the financial system and are subject to transaction\u2010type specific approvals. Ad Hoc Payments are subject to the same funds disbursement approval process as defined in this policy<\/p>\n Grants \u2013 For transactions involving Grants, all expenditures, regardless of the amount, require the approval of the Principal Investigator and the Grants Accounting Office. Gifts \u2013 For transactions involving gifts, all expenditures, regardless of the amount, require approval by the Gift Manager.<\/p>\n Capital Expenditures \u2013 All expenditures related to capital projects or other alterations to physical infrastructure require the approval of the Vice President for University Facilities, regardless of amount.<\/p>\n Information Technology \u2013 Purchases of information technology, including hardware, software and related services, require approval of the Vice President for Information Technology & Chief Information Officer. Subsequent to the approval of the Vice President for Information Technology and Chief Information Officer, the purchase of information technology services over $10,000 related to academic programs require approval of the Provost and Senior Vice President for Academic Affairs, or their designee.<\/p>\n Marketing and Communications \u2013 Purchases of custom and digitally printed materials require the approval of the Communications department.<\/p>\n The release of funds from 精品成人福利在线 University\u2019s bank and investment accounts, whether by check, wire, electronic funds transfer or other means.<\/p>\n The following University Officers are authorized as signatories on University cash disbursements and other banking transactions and bank account documents:<\/p>\n The Chief Operating Officer and Senior Vice President or Vice President for Finance & Treasurer may authorize the release of funds by additional parties or contractors in limited circumstances as may be required by University business needs. Such circumstances could include third party service providers acting on the University\u2019s behalf and under the terms and conditions of an executed agreement. Such authorizations shall be documented and approved by the President.<\/p>\n Persons with approval authority may temporarily delegate their authority to another individual within their division in order to accommodate day\u2010to\u2010day operations of the University. Such delegations should include the duration of the delegation and require supervisor approval. This section applies for this policy in its entirety.<\/p>\n Individuals who enter into agreements or facilitate the release of University funds without the proper authority or approval pursuant to this policy may be held personally liable for any financial loss incurred by the University as a result. Further, individuals who sign contracts without proper authority pursuant to this policy may also be subject to disciplinary action, up to and including termination.<\/p>\n The Chief Operating Officer and Senior Vice President or Vice President for Finance & Treasurer is authorized to make exceptions to the policies described herein, when doing so is deemed to be in the best interest of the University. Such exceptions must be documented in writing and provided to Treasury and the Controller\u2019s Office.<\/p>\n Any individual entering into or authorizing a contract, an expense or a disbursement of funds on behalf of 精品成人福利在线 University must exercise their authority in a manner consistent with the University\u2019s Code of Ethics.<\/p>\n A. Procurement Policy B. Procedures for Obtaining Legal Review C. P\u2010Card Policy D. Travel and Expense Reimbursement Policy E. State of New Jersey Uniform Ethics Code<\/p>\n Copies of the documents and policies listed above are available on the University\u2019s website, www.montclair.edu, or by contacting Finance and Treasury.<\/p>\n","protected":false},"excerpt":{"rendered":" I. Policy Statement\/Scope\/Rationale This policy establishes guidelines for Approval Authority for the following University commitments and transactions: Execution of contracts or other agreements that bind the University; Requisitions and approvals to expend budgeted resources; and Disbursements of funds to outside parties, by check, electronic funds transfer, wire transfer, etc. (sometimes referred to as check signing […]<\/p>\n","protected":false},"author":1,"featured_media":0,"template":"","categories":[4],"responsible-office":[],"class_list":["post-1371","policies","type-policies","status-publish","hentry","category-finance"],"msu_policies_meta":[{"policy_id":"","policy_owner":"Finance and Treasury","effective_date":"12\/13\/2019","last_updated":"12\/16\/2025","policy_contact":"steuberj@montclair.edu","pdf_url":"http:\/\/www.montclair.edu\/policies\/wp-content\/uploads\/sites\/205\/2020\/08\/Signatory-Authority-Policy-12.16.2025.pdf"}],"_links":{"self":[{"href":"https:\/\/www.montclair.edu\/policies\/wp-json\/wp\/v2\/policies\/1371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.montclair.edu\/policies\/wp-json\/wp\/v2\/policies"}],"about":[{"href":"https:\/\/www.montclair.edu\/policies\/wp-json\/wp\/v2\/types\/policies"}],"author":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/policies\/wp-json\/wp\/v2\/users\/1"}],"version-history":[{"count":6,"href":"https:\/\/www.montclair.edu\/policies\/wp-json\/wp\/v2\/policies\/1371\/revisions"}],"predecessor-version":[{"id":2058,"href":"https:\/\/www.montclair.edu\/policies\/wp-json\/wp\/v2\/policies\/1371\/revisions\/2058"}],"wp:attachment":[{"href":"https:\/\/www.montclair.edu\/policies\/wp-json\/wp\/v2\/media?parent=1371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.montclair.edu\/policies\/wp-json\/wp\/v2\/categories?post=1371"},{"taxonomy":"responsible-office","embeddable":true,"href":"https:\/\/www.montclair.edu\/policies\/wp-json\/wp\/v2\/responsible-office?post=1371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}III. Policy<\/h2>\n
A. Commitment Approval Authority \/ Contract Signing Authority<\/h3>\n
\n
\n
1. Contracts involving the procurement of goods and services:<\/h4>\n
\n\n
\n \nAmount<\/th>\n Approver Position \/ Title<\/th>\n<\/tr>\n<\/thead>\n \n $0 to <$200,000<\/td>\n Vice President for Finance and Treasurer<\/td>\n<\/tr>\n \n $200,000 to <$500,000<\/td>\n Chief Operating Officer and Senior Vice President; or President<\/td>\n<\/tr>\n \n $500,000 to <$850,000<\/td>\n President<\/td>\n<\/tr>\n \n \u2265$850,000<\/td>\n President (following Board of Trustees\u2019 approval)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n 2. Contracts for Academic Affairs not involving procurements:<\/h4>\n
3. All Contracts<\/h4>\n
B. Board of Trustees Approval and Waivers of Advertising<\/h3>\n
\n\n
\n \nWaiver Amount<\/th>\n Approver Position \/ Title<\/th>\n<\/tr>\n<\/thead>\n \n Bid threshold to <$200,000<\/td>\n Vice President for Finance and Treasurer<\/td>\n<\/tr>\n \n $200,000 to <$500,000<\/td>\n Chief Operating Officer and Senior Vice President; or President<\/td>\n<\/tr>\n \n $500,000 to <$850,000<\/td>\n President<\/td>\n<\/tr>\n \n \u2265$850,000 (all procurements including
\nwaivers of advertising, public bids,
\nand cooperative contracts)<\/td>\nBoard of Trustees\u2019 approval is required.
\nThis applies to all procurements,
\nregardless of procurement methodology<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\nC. Requisition and Budgeted Payment Approvals<\/h3>\n
1. Purchase Orders<\/h4>\n
\n\n
\n \nPurchase Order Amount<\/th>\n Approver Position \/ Title<\/th>\n<\/tr>\n<\/thead>\n \n Below the bid threshold<\/td>\n Procurement Buyer or Manager, as assigned in the financial system<\/td>\n<\/tr>\n \n Bid threshold and above<\/td>\n Director or Associate Vice President of Procurement, as assigned in the financial system<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n 2. Supplier Payments Without a Purchase Order<\/h4>\n
\n\n
\n \nExpenditure\/Invoice Amount<\/th>\n Approver Position \/ Title<\/th>\n<\/tr>\n<\/thead>\n \n < $100,000<\/td>\n Cost Center Manager, as defined above<\/td>\n<\/tr>\n \n \u2265 $100,000<\/td>\n Level 2 Approver, as assigned in financial system, generally a senior level manager as designated by a Vice President, Dean, or equivalent<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n 3. Payroll Transactions<\/h4>\n
4. P\u2010Card and Travel Card Transaction Approvals<\/h4>\n
5. Travel and Expense Reimbursement Approvals<\/h4>\n
6. Student and Parent Refund Checks<\/h4>\n
7. Ad Hoc Payment Approvals<\/h4>\n
8. Additional Approvals for Purchase Orders and Supplier Payments<\/h4>\n
D. Funds Disbursement Approval \/ Check Signing Authority<\/h3>\n
\n
E. Delegation of Authority Procedures<\/h3>\n
F. Unauthorized Commitments or Agreements<\/h3>\n
G. Exceptions to Policy<\/h3>\n
H. Code of Ethics<\/h3>\n
IV. References and Related 精品成人福利在线 University Documents<\/h3>\n