Expenditure Authority for Financial Transactions (C-53)
Original Implementation: April 13, 2006
Last Revision: April 17, 2012
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 electronic payments, authorize wire transfers, authorize the issuance of certified checks by a bank, authorize Automated Clearing House (ACH) transactions, release ACH transactions, and release expenditures in USAS.
Individuals designated to approve payments must submit documentation as required by the relevant state agency or financial institution 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: 34 Tex. Admin. Code § 5.61
Responsible for Implementation: Vice President for Finance and Administration
Contact for Revision: Vice President for Finance and Administration, Controller
Board Committee Assignment: Finance and Audit