Financial Authorization and Signature Policy
Overview
Scope of Policy
Responsibilities
Definitions
Authorizations / Required Signatures
Additional Reviews
Financial Authorization and Signature Policy
Authorizations / Required Signatures
Capital Purchases
| Area | Non-Medical Center | Medical Center | ||||
| Medical Center except SMH | SMH | |||||
| Capital Purchases (i.e., equipment, fixed assests) | Limit | Authorization | Limit | Authorization | Limit | Authorization |
| Requisitions leading to the creation of a purchase order | ALL | Divisional Policy or Central Department Head as applicable | ALL | Divisional Policy | ALL | Divisional Policy |
| — | — | >$500K | MC VP & CFO and Divisional CFO | <$25K <$100K >$100K >$300K | DOL BAC PBC SMH Sr. Director Finance & CFO | |
| Resulting Purchase Order with approved requisition | <$500K | Purchasing Director or designee | Same | Same | Same | Same |
| >$500K | Sr. VP & CFO | >$1.0M | MC VP & CFO and Divisional CFO | >$1.0M | SMH Sr. Director Finance & CFO | |
