Click here to review Policy 810: Signature and Approval Authority
Click here to review Policy 814: Procurement Policy
Click here to review Policy 840: Payment Policy
Click here to review the iO Role Matrix and Training Recommendation Guide
Click here to review the iO Transactions Workflow
"Signature authority” for contracts and other commitments is the authority to execute transactions that obligate the university up to dollar limits established by the Board, the President or by relevant university policies and procedures. The signer of a contract or any other financial commitment is ultimately responsible for the appropriateness and correctness of the transaction and its terms.
"Approval authority" is the authority to approve expenditure of university funds within specified dollar limits or to recommend execution of a contract or other commitment by one with signature authority. Approval attests to the appropriateness of the transaction within the university's program objectives, that funds are available and that the accounting information is correct. Delegation of approval authority is generally at the department chair, director or manager level and also includes principal investigators and project managers.
“One-over approver” is the authority to approve any transaction such as those involving travel, business meetings or entertainment for another employee or student for whom they have approval authority. This designation is necessary to confirm that the expenses incurred are in line with university policy and procedures and in support of university business and not to the personal benefit of the individual incurring the expense. Absent extraordinary circumstances and the prior approval of the Vice President for Finance, a “one-over approver” may not be a direct report of the employee who incurred the expense.