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4.3000 Expenditures & Payment of College Funds

Disclaimer: The content on this webpage appears as a courtesy to site visitors and is for general informational purposes only. To obtain a copy of the official applicable policy or regulation, please contact Brookdale’s Public Records Custodian via the Public Records webpage of the Brookdale website at https://www.brookdalecc.edu/about/public-records


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.

III. Authority

N.J.S.A. 18A:64A-12

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:

  1. Payment for goods and services received by the College shall be processed on a timely basis, according to standard business practices.
  2. 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

President

Approved: 8/1/1968
Revised: 10/24/1996
Approved: Board of Trustees 4/28/2020