Accounting: Payment of Institute Expenditures

Institute expenditures are to be paid as follows:

  1. Invoices for supplies and equipment are to be paid on approximately the 10th or 25th of the month following the receipt of the invoice. Earlier payment will be made if the Institute can benefit from a cash or other discount by paying on an earlier date. All such discounts will be taken regardless of the dollar amount involved.
  2. Charges for services will also be paid by the 10th or 25th of the month according to when the billing is received. Service billings include utilities, telephone, etc. and contract services such as trash pickup, etc.
  3. Charges for leased equipment will be paid when due.
  4. All other charges will be paid when due, but processed so the Accounting Office can schedule such disbursements during the week. Other charges paid weekly will include: Expense account reimbursement, Student reimbursements, Etc.
  5. See Check Requests and Processing Time Requirements for the check request policy.
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