Illinois Institute of Technology


PROCUREMENT OPTIONS

Petty Cash

 When personal funds are used to secure small inexpensive items, reimbursement is made in cash. The established limit on petty cash reimbursement has been increased to $150.00. Original receipts and a petty cash form with your supervisors approval must be presented in person at the Comptroller's Office.

 

CDV's

 Check Disbursement Vouchers (CDV's) can be used for most items up to $500.00. CDV's may not be used to pay contracts or consultants.

Procure the following goods and services with a CDV:

  • Registration and Membership Fees
  • Subscriptions
  • Federal Express, UPS and other mail/freight services
  • Utilities
  • Postage
  • Honoraria for specific services (Not including consultants)

Original supporting documentation must be attached to all CDV's.
(e.g. invoice, conference registration or subscription forms)

 

Purchase Orders

 Purchase Orders (PO's) are required for the procurement of all goods and services in excess of $500.00.

Procure the following goods and services with a Purchase Order:

  • All materials and supplies required for daily operations in excess of $500.00
  • Consulting services
  • Construction / Remodeling
  • Office and/or Laboratory Equipment
  • Entertainment (Bands, disk jockeys, performers)
  • Furniture
  • Catering (with the exception of the university's internal food service)
  • Maintenance
  • Agreements for goods / services for one year or more duration

Refer to "How to Generate a Purchase Requisition / Purchase Order" instructions for details.

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