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Disbursement Policy Updated March 2012
The Chief Financial Officer has delegated authority for the acquisition of goods and services and the expenditure of University monies to various University officers and officials (see Signature Delegation – Chief Financial Officer Policy) in accordance with the South Carolina Procurement Code. Pursuant to that policy, this Disbursement Policy gives further direction to establish a clear process for the authorization and approval for spending (buying and paying) University monies.
Given the numerous sources of funds and processes to spend University monies, this policy is not intended to give specific direction for every possible scenario, rather it will provide direction that can then be applied to different procurement actions (Purchase Orders, Contracts, Payment Request Form, Purchase Request Form and Procurement Cards, etc…) in accordance with those established processes.
When spending University monies, there are always two processes that must take place: buying and paying. These processes go hand-in-hand; you can’t have one without the other. As such, in this policy, the terms spend and disbursement refers to the whole buy/pay process.
Any disbursement of University monies requires one (1) authorized signature to commit funds and one (1) independent approval, accomplished by entering / approving the voucher, to approve payment of funds. Excessive signatures / approvals delay payments and add unnecessary work on multiple individuals. The following outlines the signature / approval process:
Unauthorized Purchases — Only persons authorized in writing by individual departments may commit University funds to purchase/pay goods or services. If an unauthorized person attempts to commit University funds, Clemson may consider the acquisition effort null and void and decline to pay any invoice that might be issued. Clemson officers, including the Chief Business Officer, the Procurement Director, and others with delegated authority, may refuse to ratify such transactions. In such a case, the supplier may look to the individual placing the order for payment or reimbursement.