05.15 Approval of Chancellor's Transactions, Chancellor's Office Business Policies and Procedures

Purpose: To document the policy related to the approval of various Chancellor's transactions which was approved by the Board Committee on Budget and Finance on April 19, 2002.

POLICY STATEMENT

This policy sets accountability and control standards for the review and approval of the following transactions made by and/or on behalf of the Chancellor of the Oregon University System (OUS):

• time reporting,
• travel expense reimbursements,
• vacation payoffs, and
• procurement card purchases.

REASON FOR POLICY

OUS seeks to ensure that the transactions set forth above are:

• reviewed for completeness and accuracy,
• reviewed for compliance with all applicable OUS policies,
• approved, as set forth in this policy, and
• documented.

AUTHORITY

ORS 351.070 - Board general powers as to higher education and institutions; personnel system; public improvement contracts; fees; student records
OAR 580-040-005 - Board's Financial Powers - Delegation and Assignment of Responsibility

RESPONSIBILITY FOR POLICY

The Oregon State Board of Higher Education (Board) is responsible for this policy and delegates the review and approval responsibilities set forth in this policy to the Vice Chancellor for Finance and Administration. While the Vice Chancellor for Finance and Administration reports to the Chancellor, the Vice Chancellor for Finance and Administration has full authority to report any unresolved exceptions arising from this policy directly to the President of the Board of Higher Education, as necessary.

WHO SHOULD KNOW THIS POLICY?

The Board, Chancellor, Vice Chancellor for Finance and Administration, and all other Chancellor's Office personnel with fiscal responsibilities.

DEFINITIONS

None.

RESPONSIBILITIES

Vice Chancellor for Finance and Administration

The Board delegates to the Vice Chancellor for Finance and Administration responsibility for the review and approval of the following transactions made by and/or on behalf of the Chancellor. Documentation must provide evidence for an audit trail and must be maintained pursuant to current record retention standards of the Secretary of State, Archives Division. The Board directs the Vice Chancellor for Finance and Administration to report any unresolved exceptions arising from this policy directly to the President of the Board.

Transactions subject to this policy include:

• Time reporting: Review and approve the Chancellor's report of sick leave, vacation, holiday or other leave hours used. Review for completeness and accuracy and to ensure compliance with all OUS Chancellor's Office time reporting policies.
• Travel expense reimbursements: Review and approve the Chancellor's travel claims (in-state, out-of-state, and foreign). Review for completeness and accuracy and to ensure compliance with all OUS travel policies.
• Vacation payoffs: Review and approve any vacation payoffs for the Chancellor. Review for completeness and accuracy and to ensure compliance with OUS vacation payoff policies.
• Procurement card purchases: Review any purchases by the Chancellor to ensure that they are appropriate expenditures that further the business of the state and the mission of OUS and that the use of the card complies with all OUS procurement card policies.

Chancellor's Office Personnel with Fiscal Responsibilities

Chancellor's Office personnel processing transactions related to the Chancellor have a duty to examine and verify that the transactions comply with this policy.

Internal and External Audit

All financial transactions related to the Chancellor are subject to periodic audit by the OUS Internal Audit Division and the Secretary of State Audits Division.

WHO TO CONTACT

Last Updated: 02/20/03