Dickinson College Accounting Policy and Procedures
Procurement Authorizations

This policy covers:     

1.  Acquisition of Goods and Services
2. Check Signing
3. Wire Transfers/ACH Transactions

A. Acquisition of Goods and Services

Acquisitions of goods and services must be approved in writing by a duly authorized person as follows:

• < $15,000, any Department Head, Budget Officer or Assistant, Associate or employee authorized in writing by a Department Head or Budget Officer
• < $50,000, any Division Head
• > $50,000, the President or any two Division Heads, one of whom must be the Vice President and Treasurer or Associate Vice President and Associate Treasurer

The monetary level of authority of the position described in any category listed above applies to each category with lesser levels of monetary authority as well.  This written authorization may occur prior to acquisition. Once the acquisition has been approved, payment of the invoice may be authorized by the individual certifying receipt of the goods or services.

The Principal Investigator, or a designated responsible employee (business administrator, chairperson, etc.), is responsible for authorizing acquisitions charged to grant funds.  All externally sponsored projects for research or other purposes are administered through the Sponsored Projects Group (SPG) in accordance with established College policies and procedures. 

B. Check Signing

Checks are printed through IntelleCheck, the College’s check writing software.  IntelleCheck prints the micro encoding on all checks and includes a pre-printed signature of the Vice President and Treasurer for all checks under $10,000. 

Checks over $10,000 require manual signatures of two of the following employees: Vice President and Treasurer; Associate Vice President and Associate Treasurer; Controller; Director of Planning and Budget; Director of International & Grant Accounting.  The Administrative Assistant in Accounts Payable attaches the invoice package before presenting checks for authorized signatures.    

C. Wire Transfers/ ACH Transactions

Wires and ACH Transactions are processed in Wachovia Connections.  Access to Wachovia Connections is password (and token) protected and is limited to employees in Financial Operations and Development as follows: 

• Financial Operations – Associate Vice President and Associate Treasurer; Assistant Treasurer; Controller; Assistant Controller; Director of Planning and Budget; Director of International & Grant Accounting; PT Staff Associate (reporting only); Budget Analyst (reporting only)
• Development Administrative Services – Director; Staff Associates (2)

Payment transactions in Wachovia Connections require dual authorization – one authorized employee may initiate a transfer and a second authorized employee is required to approve or reject the transfer. 

Automatic ACH transactions are set up with Federal student aid programs to allow the Fed to ACH money into and out of College student aid accounts. 

The Budget Analyst reconciles all cash accounts on a monthly basis.  All wires and ACH transactions are booked at this time.  

Related Information

Petty Cash
Procurement Process
Purchase Order Terms and Conditions
Purchasing Card
Travel and Related Expenses
Fixed Assets Management
Sponsored Projects and Grants Administration

Last Amended Date: June 16, 2008

Next Review Date: November 20, 2008

Financial Operations | 717.245.1383
Dickinson College, PO Box 1773, Carlisle, PA 17013