102 - University of North Carolina at Chapel Hill Policy on Disbursing Authority

Reason for Policy

This policy defines the fiscal responsibilities and accountability of the disbursing authority to maintain integrity in the University-related transactions and to reduce the potential for misuse of University resources.

Policy Statement

The disbursing authority on a Source (ConnectCarolina chartfield) should be a person holding a position at the dean, director, or department chair level. The disbursing authority has a fiscal responsibility to manage the use of funds in accordance with the fund authority, applicable agreements, University policies, and state or other regulatory agency guidelines. The disbursing authority will be shown on the Source and Fund Authority document, which can be accessed through the Source Create module in ConnectCarolina. A disbursing authority can be responsible for more than one Source.

The disbursing authority may authorize department personnel to manage the day-to-day transactions on the Source in accordance with fund authority. If a disbursing authority wishes to delegate his or her approval signature authority, the delegation should be in writing. The naming of a delegate does not relieve the disbursing authority of the ultimate fiscal responsibility and accountability of funds under his or her control. By appointing others to sign on his or her behalf, the disbursing authority is not delegating responsibility, but merely the authorization to approve transactions.

Signature

When signing documents for an individual, a delegate should sign his or her own name (not the name of the individual they are signing for), and print or type the word "for" followed by the name of the original authorized individual.

The minimum number of signatures required to process documents for disbursing funds:

One (1) authorized signature is required to process requests for non-personnel funds.

One (1) or more (2 maximum) authorized signatures are required for personnel funds.

Counter Signature

When reimbursement for out-of-pocket business expenses is to be paid to an individual who is also the disbursing authority for the source to which the expense will be charged, a counter signature is required. The counter signature may be from either of the following:

1. a person of higher authority, or
2. the business manager or other person designated to review and approve expense transactions for the department, school, college or division.

Exclusions

This policy does not preclude the requirement of additional approving signatures by a department, school, college or division.

This policy does not preclude electronic approvals in place of manual signatures or a blanket approval signature for certain types of small dollar purchases. The types of and amounts of small dollar purchases to be determined by the disbursing authority who bears the ultimate fiscal responsibility and accountability of funds under his or her control.

Special Situations

None

Procedures

None

Additional Information

Frequently Asked Questions

None

Related Data

ConnectCarolina training resources page - Search for "Chartfield."

History

Revised:

• November 23, 2015: Updated terminology and locations of tools within financial systems. Added training link under Related Data.
• March 23, 2010