Insufficient Funds
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Document Title | Insufficient Funds | ||||||||||||
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Document Type | Bylaws Policy Document Procedures Guidelines Form | ||||||||||||
Office/Unit | Purchasing Department | ||||||||||||
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Policy Number | Purchasing Department Policy No. 113 | ||||||||||||
Approval Date | January 2003 | ||||||||||||
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Effective Date | January 2003 | ||||||||||||
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Revision History | ORIGINAL: January 2003 |
DOCUMENT CONTENT |
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I. PurposeThe purpose of this policy is to define a procedure for handling requisitions with accounts that have insufficient funds. II. ProcedureIf a requisition is received for encumbrance against a state account with insufficient funds, Purchasing will forward the requisition to Accounting and the department will be notified. If funds are not available and will not become available in the near future, the requisition will be returned to the department. If funds are temporarily not available, but are forthcoming, the requisition will be held in Purchasing until funding becomes available. | |||
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