4.5 Fiscal Matters

4.5.1 The Budget

Educational programs, need for services, and limits of resources, all help to determine the institutional budget -- an itemized, authorized, and systematic plan of operation, expressed in dollars, for a given period.

Within the organization of the University, the Board of Trustees has the sole authority to appropriate funds, i.e., to authorize expenditures. The Board exercises this function regularly by its approval of the annual budget recommended by the Financial Affairs Committee of the Board.

The budget is a chart of operations for the entire University for each fiscal year (July 1 - June 30) and therefore, departmental budgets must be subordinated to the overall University objectives.

Heads of departments are required to prepare an annual budget of all necessary items of expenditures for their departments. It is highly desirable that they think and plan in terms of a long-range program, at least three to five years in advance, so that funds appropriated for the use of the department may be utilized to the best possible advantage in furthering the educational aims of the University. The budget is prepared after consultation with other faculty and/or staff in the department and is submitted through the appropriate vice president to the Vice President for Business Affairs by the designated date. It should include all requirements for the fiscal year commencing July 1.

Appropriations beyond the originally approved budget for a fiscal year will be considered only in extraordinary circumstances.

The head of the department is the only one authorized to expend department budget appropriations. S/he must sign all required forms personally. Department heads review actual expenditures by accessing budget information on the University's computer system to ensure accuracy and that expenditures are kept within the approved budget.

4.5.2 Payroll

4.5.3 Cash Deposits, Reimbursements, Travel Advances

University Receipts

All cash, checks or other monies received through departments must be deposited daily in the Cashier's Office, together with a complete accounting of these funds. Such funds should never be left in any department's office overnight, unless the office is furnished with a safe.

University Disbursements

Requests for the disbursement of funds other than through the purchasing procedure must be made in writing to the Accounts Payable Office. Check Requisition forms are available there, on-line, and at the Cashier's Office. Examples of such expenditures would include periodical renewals, dues, memberships, travel reimbursements, etc.

Small amounts of cash (less than $100) may be requested by submitting a Petty Cash Requisition form to the Purchasing Office, where a Purchase Order will be issued. The Petty Cash Requisition form is available in the Cashier's Office and on-line. The Cashier's Office will process the request and the requestor can then pick up the cash there. Receipts for purchases and any cash not spent must be returned to the Cashier's Office to substantiate the disbursement.

4.5.4 Travel and Business Expenses

4.5.5 Mileage Reimbursement

4.5.6 Gift Giving and Remembrances

4.5.7 Entertainment of University Guests and Employees

4.5.8 Gifts To the University

All gifts to the University are processed through the Advancement Office so that the donor may receive a formal expression of appreciation, and in order that a record of the contribution may be kept. Any fundraising activity undertaken in the name of Marywood University must be approved by the Advancement Office.

4.5.9 Personal Charges

4.5.10 Printing Services

4.5.11 Purchasing

Purchases of supplies, equipment, and contract services that are to be charged to University budgets or to funds controlled by the University must be made through the Purchasing Office. The University cannot be obligated except by authorized persons. A purchase by any other individual, i.e., not by way of an official purchase order, is the personal obligation of the individual making the purchase.

An unauthorized purchase transaction or order is one that is made without the proper authorization of the Purchasing Office and is intended to be charged to University funds. An unauthorized purchase may be evidenced by a purchase requisition that is sent in for approval to the Purchasing Office after the goods are already purchased or ordered, or it may be evidenced only by an invoice from the vendor or by a check requisition for payment of charges. An individual who makes an unauthorized purchase is personally responsible for payment of the charges incurred.

The proper procedures for obtaining any supplies, equipment, or services are contained in the Marywood University Purchasing Procedures Manual, which is available in each department and on-line.

Interdepartmental Charges

Personnel may charge to their departments by completing an Interdepartment Charge Requisition form. The form must be authorized by the chairperson or department head before submitting it to the department where the charge is made, e.g., Bookstore, Dining Services, Print Shop, etc. If not authorized, the charge becomes the personal responsibility of the individual.

Purchase of Services of Independent Contractors

Individuals who are not employees of the University and who are hired to perform a specific service are compensated as independent contractors. A Compensation Agreement is required to compensate an independent contractor. The Compensation Agreement form must be submitted to Fiscal Services before services are rendered. Independent contractors compensation forms are available at the Accounts Payable Office.

4.5.12 The Bookstore

Textbooks

Chairpersons of instructional departments are ultimately responsible for the ordering of textbooks for their departments. Faculty members are urged to place their orders at the University Bookstore by March 15 for summer sessions, by April 15 for the fall semester, and by October 15 for the spring semester. Faculty members should make a serious effort to order books in quantities sufficient to cover class enrollments and to avoid, if possible, large inventories. When contemplating a change of text or edition, faculty members should inform the Manager of the University Bookstore in ample time to reduce any inventory before the new books are ordered.

Book companies do not accept requests for desk copies from bookstores. However, a form for this purpose may be procured at the University Bookstore, for the convenience of a faculty member. The form directs the company to forward the copy to the faculty member directly.

The University seal or logo

The Bookstore possesses the exclusive right to sell all items bearing the University seal or logo.