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I. Title of Policy
Expenditures and Payment of College Funds
II. Objective of Policy
To establish responsibility and guidelines for the expenditure of Brookdale Community College (“College”) funds.
IV. Policy Statement
The responsibility for authorizing payment of all obligations and signing of checks shall rest with the President.
The Administration shall observe the following:
- Payment for goods and services received by the College shall be processed on a timely basis, according to standard business practices.
- College Regulations shall prescribe signers and approved amounts. Checks and supporting documentation to electronic payments (eChecks) above threshold amounts require two signatures, one of which is manual. Threshold amounts will be reviewed annually by the Audit Committee of the Board of Trustees.
Responsibility for Implementation
Approved: Board of Trustees 4/28/2020