Policy 1504: Signatory Authority for Disbursements of $1,000,000 or Greater

Subject Area: Cash
Responsible Office: Financial Services
Sponsor: Chief Financial Officer
Originally Issued: December 1990
Revised: July 2007, January 2010, December 2017
Refer Questions To: Financial Services, 773-702-3690

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Purpose: To establish signatory authority for disbursements of $1,000,000 or greater.

Policy

1. All checks written on University accounts in the amount of $1,000,000 or greater must have two signatures, one of which must be the Associate Vice President for Finance or other individual that has been approved by the President or the Chief Financial Officer as a designated signer or counter-signer.