Expenditure Authority for Financial Transactions (C-53)
Original Implementation: April 13, 2006
Last Revision: April 21, 2009
The Stephen F. Austin State University Board of Regents authorizes the president of the university to designate individuals to approve payments on banks and financial institutions and expenditures paid through the Uniform State Accounting System (USAS). Only individuals who are properly designated by the president are allowed to approve payments of the university's expenditures. Only university employees may be designated to approve the university's expenditures.
For the purpose of this policy, this designation will apply to those persons who have the authority to sign checks, authorize wire transfers, authorize Automated Clearing House (ACH) transactions, and release expenditures in USAS.
Individuals designated to approve payments must sign and submit a signature card to the relevant state agency or financial institution with documentation showing they are properly designated to approve the university's expenditures.
The Stephen F. Austin State University Board of Regents authorizes the vice president for finance and administration to designate a USAS security coordinator and assistant security coordinator. The Office of the Vice President for Finance and Administration is responsible for removing expenditure authority when an individual is no longer authorized to approve expenditures or is terminated. The security coordinator or assistant security coordinator is responsible for removing expenditure authority in USAS when an individual is no longer authorized to approve expenditures or when an individual is terminated.
Cross Reference: Title 34, Texas Administrative Code, Part 1, Chapter 5, Subchapter F, Rule 5.61; Security Coordinator Reference Guide
Responsible for Implementation: Vice President for Finance and Administration
Contact for Revision: Vice President for Finance and Administration, Controller
Forms: None