Business and Finance
Policy Title: Executive Expense
Created 10/1/2007    Updated 10/1/2007

Purpose: To outline the official approval process for executive-level purchasing.

Written Approval

Executives (all SAC employees and above) are required to obtain the written approval by his/her immediate supervisor for all purchasing card uses or expenditure reimbursements, if any, on a monthly basis.  For example, the academic deans’ purchasing cards detail and reimbursement requests are to be approved (via written signature and date) by the Provost (or his/her designee); all Cabinet level employees, the Director of Marketing and Communications, and the Athletic Director must have their purchasing card reports and their reimbursement requests signed off by the President (or his/her designee).  The President’s expenses will continue to require oversight and signature by the CFO.

If an official designee is appointed; the executive should provide the designee’s name and written authorization for the designee (e-mail is an acceptable form) to the Associate Vice President for Business and Finance/Controller.   The Controller’s office will keep a list of those designated to approve executive purchases.

Receipts and Documentation Required

Receipts are required to support all purchasing card expenditures and reimbursement requests.  In order to comply with IRS regulations, documentation of the business purpose of any travel or hospitality expenditures is required to be included, as well as the names of people entertained. 

Purchasing Cards

As is true for all employees, Drake purchasing cards may never be used for personal expenditures.   All general rules related to purchasing card use apply also to executives.


Send policy comments to: Web Administrator
Authorized/Approved by: The Audit Committee of the Board of Trustees
Responsibility for Administration: Vice President for Business and Finance
Department Policy Resides in: Business and Finance

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