Policies & Procedures Manual

268

IV. East Central Community College maintains RECEIVING REPORTS at the Physical Plant facility. All deliveries are received centrally at the College’s Physical Plant facility. Receiving reports are completed when deliveries are received. The deliveries are distributed over campus by Physical Plant employees. A copy of the receiving report is signed by the person on campus receiving the original copy of the receiving report is then placed on file at the Physical Plant facility. V. As INVOICES are received in the Business Office, each invoice is matched with a copy of the purchase order. A. Notice is forwarded to the requisitioning individual to come by the Business Office to sign and date the invoice. Invoices for items ordered by career-technical departments are forwarded to the Career-Technical Dean who is responsible for getting invoices properly signed and dated and returning them immediately to the Business Office. B. If the person to whom the goods are delivered receives at time of delivery any type of paper work that could possibly be an invoice from which to pay, it is the responsibility of that individual to forward it to the Business Office for proper processing. C. East Central Community College does not pay from statements. Only itemized invoices can be properly processed for payment. D. After the invoice is properly signed and dated, it is placed in line for payment. Checks are processed weekly in the Business Office by the Accounts Payable clerk in accordance with accounts payable procedures. 1. Date the invoice is received. 2. Date the goods or services are received, inspected, and approved as indicated on the invoice by requisitioner. 3. Date the check is issued. 4. Date the check is mailed or delivered. F. East Central Community College will within 45 days after receipt of the invoice and approval of the goods or services mail or deliver the check. 1. If the invoice contains an error the 45 days does not begin to run until a corrected invoice is received. 2. In the event of a bona-fide dispute, the parties must settle the dispute within 30 days from the date interest could have been assessed if not for dispute. The check will be mailed within 30 days after the date of the settlement. 3. If payment is not made within the 45 day period or the 30 day period if a bona-fide dispute is involved, ECCC must pay a 1 1/2% interest penalty per month, or portion thereof, to the vendor. A written explanation will be attached to the file copy of a check including an interest payment. 4. East Central Community College must make a monthly report to the Fiscal Management Board including the following information for those months in which late payments are made: E. It is the responsibility of Business Office personnel to keep the following records:

a. The number of late payments