Introducing New Financial Approver Role – SWR050
June 17, 2020
Our new financial approver role stems from feedback from the University community since the introduction of the Journal Entry Workflow. Many department managers want to allow a team member to have access as a Requestor Plus in Smart Source to make purchases, but DO NOT want that team member to be able to approve journal entries. As such, Procurement Services, IT, and the Comptroller’s Office have teamed up to provide the SWR050 option. This role basically works in tandem with SSR050, but when assigned to a user’s security profile will EXCLUDE them as an approver in the Journal Entry Workflow application.
The Fund Request Form has been updated to provide this level and its definition as an option for new fund requests. You can request to modify anyone who currently has SSR050 by submitting an email to email@example.com and asking for the user to have the SWR050 added to their security so they will no longer be able to approve journal entries in the Journal Entry Workflow.
Our Non-compensation Approval Authority Policy now has the following levels:
- SSR050:This role is the equivalent of the Requestor Plus role in the University's e-procurement system, Smart Source. This approval level provides for up to $5,000 of approval authority. If an individual is authorized as a Requestor Plus in Smart Source, they will automatically be given the SSR050 authority for other financial transactions (i.e. journal entries, deposits). Approval by an individual with SSR100 or SSR200 is required to grant Requestor Plus or SSR050 authority.
- SWR050: This role strictly provides the equivalent of the Requestor Plus role in the University's e-procurement system, Smart Source. This approval level provides for up to $5,000 of approval authority. If this role is authorized, the individual will NOT be able to approve other types of financial transactions and will be excluded from journal entry approvals in the Journal Entry Workflow application. Approval by an individual with SSR100 or SSR200 is required to grant Requestor Plus or SWR050 authority.
- SSR100:This level may have two meanings depending on whether SSR200 approval authority is utilized. If SSR100 is the only approval level established for a fund/org combination, then SSR100 approvers have non-compensation approval authority up to their available budget. However, if the SSR200 level of authority is elected, then the SSR100 level cuts off at $25,000. An individual can be assigned to both an SSR100 and SSR200, if deemed appropriate. For direct reports of the President, authority should be granted by the President if the option to use only SSR100 is elected. Individuals reporting to other executives should have the most senior executive of their area approve their non-compensation approval authorization level. If the option to use both SSR100 and SSR200 is elected, then the typical assignment of authority at the SSR100 level would be to a department administrator and would be approved by the cognizant executive, senior or vice president of that area. An individual already approved as an SSR200 approver for a fund/org is appropriate to approve someone as an SSR100 approver when the two-level method is utilized.
- SSR200: An optional level for non-compensation financial transactions. If elected, the SSR200 approver is required to approve when the non-compensation expenditure exceeds $25,000. For direct reports of the President, authority should be granted by the President for this level of expenditure approval. Individuals reporting to other executives should have the most senior executive of their area approve. SSR200 approval authority role is not required.
- SSR900:This level is the equivalent of SSR100 or SSR200 but is a role that is not made a part of the Smart Source or Journal Entry Workflow approval processes. This role allows the user to be documented in the signature authorization hierarchy table as an authorized approver for other non-compensation financial transactions that may require their approver. This role would be reserved for Deans, Senior and Executive Vice Presidents, and the President. Funds and Orgs must have at least one person at the SSR100 or SSR200 level to ensure coverage of approvals using the Smart Source procurement system.
If you have any questions concerning this new financial approver role, please email firstname.lastname@example.org.