7.1.42 Expenditure/Contract Authority

Policy

The fiscal agent (a.k.a. Budget Officer) is the individual responsible for all financial aspects of an account. Only the fiscal agent may authorize expenditures to be processed against the account. As a fiscal agent, the assigned individual must make sure that expenditures are appropriate and within the established budget for the unit/department. The Board of Trustees has given contract authority to the University’s President. The President is authorized to delegate contract signature authority to other appropriate campus personnel, if needed. Individual fiscal agents are not authorized to contract on behalf of the University.