4-OP-D-2-C Payables and Disbursements

Responsible Executive: Finance and Administration

Approving Official: Vice President for Finance and Administration

Effective Date: June 8, 2026

Revision History: New 10/3/2014, 05/15/2018 (formatting only), Amended 10/26/2020, Amended 12/9/2021, Amended 6/8/2026

  1. INTRODUCTION
    1. OBJECTIVE
      1. To establish the university’s policy for the timely and proper disbursement of funds for goods, services, and reimbursements consistent with the law, Board of Trustees authority, and fiduciary responsibility. 
  2. POLICY
    1. PROMPT PAYMENT REQUIREMENT
      1. All payments made by the university are subject to university policy and rules as approved by the university's Board of Trustees. Invoices that are properly received, inspected, and approved must be paid no later than forty (40) days after receipt.
      2. An exception is provided in the case of a bona fide dispute, in which case the voucher shall contain a statement of the dispute and authorize payment only in the amount not disputed. Otherwise, the university may waive this requirement only under exceptional circumstances as determined by the Controller.
      3. “Receipt” means the date an invoice is received at the university-designated location.
      4. The Controller may authorize advance payments for goods and services, including, but not limited to, maintenance agreements and subscriptions when it is in the best interest of the university to make payments in advance, and it has been determined there is adequate protection to ensure that such goods or services will be provided.
      5. Interest penalties may apply under Florida Statutes for late payments.
    2. AUTHORIZED DISBURSEMENTS
      1. Disbursements may be made only for legitimate university purposes and must be supported by adequate documentation.
      2. Disbursements may be expended only for reasonable, necessary goods or services that directly support the university mission and comply with applicable spending guidelines and reimbursements to employees consistent with approved university policies.
      3. Reimbursements must be for authorized university activity and documented appropriately. If it is deemed that the purchase was improper, the invoice will be returned, and the charges will be borne at the personal expense of the individual who made the purchase.
    3. PROCUREMENT & PURCHASE AUTHORITY
      1. Purchases must generally be processed through Procurement Services or other authorized methods.
      2. Unencumbered disbursements (without purchase orders) are permitted only when procurement methods are not reasonably available or where a supplier will not accept the university purchasing card. Please refer to the university’s Expenditure Guidelines for specific, allowable unencumbered expenditures.
      3. All disbursements must comply with applicable state law, Board of Governors rules, and university regulations.
      4. Please refer to the university’s Expenditure Guidelines for specific allowable expenditures. 
    4. SPONSORED RESEARCH & DSO SPENDING 
      1. All purchases made under sponsored awards managed by Sponsored Research Administration (SRA), including those that are split-funded, must receive approval and comply with expenditure thresholds set by SRA prior to processing for payment. Furthermore, projects classified as SRAD/PI support or Research Control and Operating Projects must follow the approval requirements established by SRA.
      2. Any purchases made from a Direct Support Organization (DSO) budget must follow the approval and expenditure guidelines of the applicable DSO. In the event that the expenditure is divided between the university and the DSO, the expenditure guidelines of both organizations must be followed.
    5. INTERDEPARTMENTAL TRANSACTIONS
      1. Interdepartmental transactions must be supported and approved and are subject to standard expenditure principles.
    6. COMPLIANCE
      1. Non-compliance with this policy may result in delayed payments, interest penalties, or corrective action consistent with university rules and Florida law.
  3. LEGAL SUPPORT, JUSTIFICATION, AND REVIEW OF THIS POLICY
    • SPECIFIC AUTHORITY
    • Florida Statute 215.422(2)(b)
    • Florida Statute 1004.22
    • Florida Statute 55.03(1)
    • Florida Statute 215.422(3)(b)