ࡱ> BDAa bjbjjj *(?b?bX .....BBB8z$B"2"7"9"9"9"9"9"9"$#&Z]".]"..r" F..7" 7" '!O!`(ej?!#""0"G!&g8&O!&.O! ]"]"&"& B : FM 2000 Accounts Payable Policy: The 鶹ֱ processes vendor payments in a manner that maintains good vendor relations and maximizes institutional cash flow. The Procurement Department is responsible for the review, approval, and payment of materials and services on standard requisitions, purchase orders, blanket purchase order releases, leases, and maintenance payments. The provisions of this document are applicable to the payment of an invoice as a deposit, partial payment, advance payment or for products and/or services received on behalf of the College. Statements may be used for reconciliation of account status but generally payments are made against actual invoices. Procedure: The Colleges standard payment terms are net thirty (30) days following receipt of a properly approved invoice. Payment runs are generated on Tuesday and Thursday of each week. The payment run schedule will be adjusted for holidays, college closings and month-end payment runs. Procurement personnel are responsible for vendor communications and ensuring accounts payable files are maintained in auditable condition for internal and external auditing purposes. Invoices shall be addressed or directed to the Procurement Department (Accounts Payable) upon receipt. Invoices should not be addressed to the requesting department. Should a department receive an invoice, it must be forwarded immediately to Accounts Payable. Accounts Payable will notify the appropriate cost center manager if a substantial price variance is noted between a purchase order and invoice. Payment will not be made until such variances are resolved. Shipping charges and minimal variances of up to 10% of the invoice amount (not to exceed $50.00) will be processed for payment. The using/requesting department is responsible for verifying item(s) received against the packing list and returning the signed packing list to Procurement within ten (10) days of receipt. Delays in receiving approved packing lists from the requesting department may delay the payment process. Following implementation of an electronic receiving process (in 2007), departments will receive item(s) on-line and retain packing lists within their department. Requests for Payments to individuals, professional firms, contractors, etc. for services must be submitted on a requisition. A completed W-9 and ACH (include a voided check or deposit slip to validate bank account and routing number) forms must be submitted for all new vendors. Complete taxpayer information to include name, mailing address, and identification number, bank account and routing number (federal employer number for businesses and social security number for individuals) is required to process payment. A copy of a current workers compensation certificate or exemption form for service providers should be submitted with the requisition. Approved payment requests received in the Procurement Department by 9:00 a.m. on Friday (for the following Tuesday) and 9:00 a.m. on Tuesday (for the following Thursday) will be issued on the next payment run. Paper checks will be available for distribution beginning at noon the day of the payment run. AP is encouraging all payments to made via ACH. For paper check requests that require special handling (enclosure to accompany the paper check), two copies of the enclosure should be attached to the requisition. Expense reimbursement to employees for college related purchases are to be submitted via Bank of America Works System via ACH. Expense reimbursements for employee business travel expenses (transportation, meals-per diem, lodging, registration fees, and parking) must reference the reason for the travel (conference, seminar, etc.) via Bank of America Works System. The College will reimburse employees for allowable out-of-pocket travel expenses incurred during approved business trips in accordance with the Procurement travel policy PRO-010 and/or 鶹ֱs Administrative Travel Policy FM2500. Original receipts are required for reimbursement except meal per diems. Employee reimbursements are distributed via ACH. Submit paper check requests for non-employee honorarium payments to Accounts Payable. Honorariums paid to employees must be submitted through the Payroll Department. Reference: Division of Financial Services Manual For more information contact: Director, Procurement Department, x7822     PROCUREMENT POLICY AND PROCEDURES PAGE  PRO-005 Page  PAGE 1 of 2 Date revised and approved: 05/08/19  !$ M O A I L _ c k o    46=BFZct?ξκζβζββββββξʲhE%>h5(nhNhehZhe(h*hhd hd\ h\ h\h h5 h5 hh h5F #$ XYgdd & Fgd$a$$a$gd$a$gd?@ABCMQp !6WWbjrs&),3=\ivx}`aij5>I]mhh&ng h7wh7wh7wh-hh>h'(h<hE%>h\qThGhe(hheJY`a230XZ[]^ & Fgdbw]gdbw] & F $ & Fa$gdmh^hgdm & Fgd7wgd & Fgddmt-012:<@0QXY[\^_abdefjh5(nUh h5(nh h5(n5h h5(n0Jjh5(n0JUh5(n h5(n5hmGhh(Qjh(QUhN h5\h0hbw]hhWfhh8uh&nghh;5^`acdefg$a$&`#$$a$ÿhh(QhmGhh5(n h5(n0J hqh hTh h5(nhjh5(nUh*hNhmHnHu*(/ =!"#$%@ s2&6FVfv2(&6FVfv&6FVfv&6FVfv&6FVfv&6FVfv&6FVfv8XV~ 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@_HmH nH sH tH 8`8 Normal_HmH sH tH >@>  Heading 1$$@&a$CJBB  Heading 2$$@&a$5CJ88  Heading 3$@&CJBB  Heading 4$$@&a$>*CJ<<  Heading 5$@&>*CJBB  Heading 6$$@&a$5CJ<<  Heading 7$@&5CJDA`D Default Paragraph FontViV  Table Normal :V 44 la (k (No List 0>0 Title$a$CJ:J: Subtitle$a$5CJ8B@8 Body Text$a$CJ4 @"4 Footer  !.)@1. 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