1,502: Financial Commitment

Last Revised: December 2003

Every university employee is responsible for compliance with the policies contained herein, as well as NSHE Board of Regents' policies and Chancellor's Memorandums regarding contracting and purchasing. The Director of Purchasing is responsible for ensuring compliance with these policies and procedures, as well as state and federal procurement regulations. No person is authorized to obligate the university without reserving, in advance, sufficient funds to meet the obligation, nor can anyone commit the University for the acquisition of goods or services without the prior approval of Purchasing. Except for the provisions outlined in this manual, purchases and agreements to purchase made without prior approval by Purchasing, acknowledged by the issuance of a purchase order or contract, will not be honored.