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Vendor Discounts <br />The City’s policy is to take advantage of available payment discounts according to vendor <br />discount terms. Timely submission of the vendor invoice to Accounts Payable is required in <br />order to avail ourselves of this benefit. <br />C-1b. Payments to Employees <br />Employees may not authorize payments to themselves. The employee's supervisor or manager <br />must approve the expenditure. <br />Payment Options <br />Use of the purchase credit card (MasterCard) and petty cash is encouraged for small dollar <br />purchases. Petty cash is available for purchases less than $125. See Purchasing Section G-4 for <br />additional information. <br />C-1c. Emergency Vendor Checks <br />Check requests that do not fall under the Vendor Payment Policy are exceptions that must be <br />approved by the Financial Services Disbursements Manager. <br />C-1d. Employee Checks <br />Cashing employee personal checks from change or petty cash funds for purposes of obtaining <br />cash is prohibited. <br />C-1e. 1099s <br />IRS 1099 forms will be issued throughout the year to non-incorporated independent contractors <br />who do at least $600 of business with the City per calendar year. Departments should request <br />W9 forms from all new vendors or contact Accounts Payable for assistance. <br />C-1f. Frequency of Vendor Payments <br />Vendor checks are issued weekly except Thanksgiving and Christmas weeks and the first week <br />of the fiscal year in July. See also the Vendor Payment Policy. The Accounts Payable cutoff <br />time for invoices to be processed is Tuesday at 8:30 a.m. (This includes holiday weeks). <br />C-1g. Receiving <br />Enter the date the goods or services are physically received, not the data entry date. If the goods <br />are returned, cancel the receiving in PeopleSoft system. <br />C-1h. Approval <br />Executive Managers designate staff in their departments to approve orders and the dollar <br />amount that each person is authorized to approve. The approver must be a regular employee <br />(not temporary) and should be an office manager, supervisor, division manager or Executive <br />Manager. Employees cannot authorize payments to themselves. Approvers should not give <br />their password to anyone unless they are designating a backup during absences. <br />10/07 Financial Policies and Procedures Manual <br />C_AcctsPayable.docx Page C.2 <br /> <br />