Process for Processing Invoices over $100,000

Last revised:  September 2, 2016

Yale University requires departmental business office approval (two signatures) of all invoices that are either over $25,000 themselves, or when processed together will bring the daily vendor total to over $100,000. This is a current interpretation of Yale policy 3401: “Payment Policy, General”.  The Library’s Director of Finance & Business Operations and the Operations Manager currently have this signature authority, as designated from the University.

Library policy requires a signature and date be applied to an invoice valued at these levels before it is submitted for invoice payment.  This signature should be from Library department personnel possessing the knowledge of the subject matter, and decision making authority within their scope to finalize these invoices for payment.  The signature indicates that this is a correct, fully negotiated invoice, ready to be processed for payment by the Library business office.  This signature is for internal use, and will not generate payment by the University.   It will be paid by the University when signed by the two authorized from the Library Business Office.

 The invoice, once documented with all three signatures, should be scanned to FileNet as the document of record, and subsequently processed for payment through Voyager.  This will insure the document of record is a final copy, indicating that policy has been followed, complying with audit standards when and if that invoice is ever pulled for review at a later date.

Documentation provided by Library Business Office