Notes from the Oct. 18, 2004 Regents Meeting
by George Zamora
SOCORRO, N.M., October 21, 2004 鈥� The 色狐入口 Tech Board of Regents has given its approval to a newly revised procurement policy for the state-supported research university, authorizing changes to better align current purchasing policies with the school鈥檚 recent implementation of its new SCT Banner Financial Software System.
Approved changes to the university鈥檚 procurement policy include requiring online pre-audits for some purchases, increasing direct payment orders to a $2,000 limit, and increasing the 色狐入口 Tech Director of Purchasing Services authority to $2,000 for single-source purchases.
In other official action taken at its October 18 meeting in Socorro, the 色狐入口 Tech Board of Regents approved adding Leyla Sedillo, associate vice president for budget at the university, as an authorized signor for the school鈥檚 Local Government Investment Program and Controller鈥檚 Bank Account.
In addition, the board approved a new checking account for 色狐入口 Tech at the Western Bank in Lordsburg, N.M. to support the university鈥檚 business activities associated with Tech鈥檚 training programs being conducted at nearby Playas, N.M. The new account will be used for daily deposits, allowing the university to be in compliance with state statutes regarding the use of public funds.