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With the exception of construction, renovation work, and other items
restricted in accordance with policies and procedures, purchases of goods
or services of $5,000 or less may be made by departments based on their
discretion. To stay within this limit, departments may not make multiple
purchases of or request multiple invoices for single purchases of identical
goods or modular components from the same vendor. Requirements of identical
goods or modular components from the same vendor that exceed $5,000 must
be submitted to Purchasing Services on a requisition in the IRIS system.
Departments should make purchases under existing University or State contracts
whenever possible. University personnel should obtain approval from their
department head or business manager prior to making purchases. Personal
liability may result if a purchase is made without proper authorization.
A copy of the University's tax
exemption certificate should be provided at the time of purchase to
ensure that sales tax is not charged.
Methods for making purchases within this range are as follows:
UT Visa Procurement Card. This is the University’s
preferred method of payment for most transactions up to $5,000. Click
here
for additional information about the procurement card program. NOTE: Purchases
of sensitive minor equipment valued between $1000 and $5,000 CANNOT be
purchased on a procurement card.
Credit Purchases. Single purchases of $5,000 or less
may be made from vendors who will provide goods and services on credit
without a purchase order and will invoice the University after delivery.
Invoices for such purchases should be sent directly to the department
receiving the goods or services and processed for payment in accordance
with Fiscal Policy 060.
Petty Cash Purchases. Departments may use petty cash
funds to make single purchases up to $5,000 from local vendors in accordance
with Fiscal Policy 030
and Fiscal
Procedure Section 030.
Departmental Purchases with Personal Funds. With proper
departmental authorization, employees may use personal funds to make single
purchases of $5,000 or less for goods or services for departmental use
and be reimbursed by the University. The Petty
Cash Reimbursement Request, Form T-44, must be used to request reimbursement.
Requests must include a receipt that has an itemized description and the
price of each item as well as the total amount of the purchase. A cash
register tape with a description and the price of each item purchased
may be used. The receipt or cash register tape must be imprinted with
the vendor's name. See Fiscal
Policy 030 and Fiscal
Procedure Section 030 for additional information about petty cash
purchases.
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