D3: Administrative Authority for Payment of Bills
Adoption Date: 09/17/90 | Revision Date: 10/21/02 | Revision Date: 08/26/08 | Revision Date: 12/15/09 | Revision Date: 09/27/11
The Administration of the College shall be authorized to pay obligations of the College for the goods and services as they come due, on approval of the Vice President of Finance and Administration in accordance with sound accounting systems and applicable regulations as may be prescribed by the Illinois Community College Board. Such payments shall be reported to and submitted for ratification by the Board of Trustees at the Board’s next ensuing regular meeting. No payment shall be made under the authority of this paragraph except on documentation showing that the services or goods have been received, and that the invoice conforms to the terms of the transaction. Further, no payment shall be made under authority of this paragraph for invoices in excess of $10,000 except for utilities expenses or unless purchase of the item(s) invoiced has previously been approved by a vote of the Board of Trustees or consulting or professional services contracts over $7,500.