Payment for Goods and Services Policy

Policy Owner: Chief Finance Officer

Policy Statement:

The Vice President of Business Services maintains oversight authority for all payment functions and procedures.

Policy Rational:

It is the responsibility of the Business Office to ensure that payments are made only for purchases that have been properly authorized and recorded in the automated accounting system.  Only after the goods have been received or services have been provided will payment be made.  Furthermore, it is the responsibility of the Business Office to ensure that all properly approved and documented invoices are paid in a timely manner.