Repository: UIHistories Project: Board of Trustees Minutes - 1958 [PAGE 1067]

EXTRACTED TEXT FROM PAGE:

1064

BOARD OF TRUSTEES

[December 17

b) The Bursar (or the Business Manager of the Chicago Professional Colleges and the Chicago Undergraduate Division) shall: i) Collect all accounts due the University and deposit the funds as required by law and the regulations of the Board of Trustees; this shall include the negotiation and supervision of contracts or other financial arrangements to accomplish such collections. ii) Make payments for personal services performed by University staff and prepare and maintain payroll records. iii) Act as certifying officer to the University Retirement System. iv) Maintain detailed accounts receivable records. v) Administer fiscal procedures of student loan funds. vi) Administer fiscal operations of educational and student aid activities financed by outside agencies and individuals. vii) Handle investments under instructions of the Finance Committee of the Board and the Comptroller. c) The Chief Accountant shall maintain the general financial records of the University. He (or the Division Chief Accountant at branch locations) shall also: i) See that all claims against the University are properly verified and approved for payment. ii) Prepare all warrants on the Treasurer and vouchers against state appropriations. d) The Director of Purchases (or the Purchasing Agents at branch locations) shall: i) Negotiate and issue orders for the purchase of articles and materials required by all University departments, except when the Board assigns this authority to some other person or committee, and it shall be his responsibility to purchase suitable articles and materials at proper prices, complying with regulations of the Board and laws governing conduct of University business. ii) Advise members of the departments as to availability and cost of commodities and services. Purchases of equipment and materials for the Physical Plant Department shall be made in accordance with the recommendations of the Director of the Physical Plant. iii) Have supervision over general storerooms, except as otherwise provided. e) The Business Manager in Chicago shall: i) Act as the Vice-President and Comptroller's representative in business and financial matters at the Chicago Professional Colleges and the Chicago Undergraduate Division. ii) Have supervision over the various departments of the Business Office on the Chicago campuses. (b) Purchases shall be made in accordance with applicable state statutes on the basis of competitive prices or bidding, quality, suitability, and service considered. Purchases amounting to $2,500 or more shall be submitted to the Board of Trustees or to its Executive Committee, unless, in the opinion of the President of the University, necessity requires immediate action, in which case the President shall act and report promptly to the Board. This provision shall not apply to the purchase of food products, grain, livestock, or to any other commodities which the Board from time to time may exempt. (1) No purchases of materials or equipment shall be made from an