FINANCIAL SERVICES
Purchasing Goods/Services - The Spending Authority
Towson
University's budget, as approved by the State of Maryland, provides
the authority for all expenditures. State and university policies regarding
allowable expenditures apply to all purchases, regardless of method
of payment (VISA Procurement Card or traditional billing process) or
source of funds (state-support, self-support, grant, or contract).
While
anything priced over $5,000 must be obtained
by submitting a purchase requisition to the Procurement Office, every
university department has a ‘Spending Authority' under which goods or
services valued at $5,000 or less may be
purchased directly from a vendor by using the procurement card or direct
invoicing from the vendor.
There
are three basic ways to spend departmental funding.
Administration and Finance Questions
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