University Policy 4.2
Transaction Authority and Payment Approval

Cornell’s Board of Trustees, “the Board,” formally delegates authority to designated individuals to enter into agreements with external parties that obligate the university. This is referred to as “transaction authority.” An individual must not assume transaction authority unless that authority is extended through this policy.

The Board also grants to heads of units the authority to delegate “payment approval” to individuals with related functional responsibilities. This is not the same as transaction authority. Instead, payment approval is the authority to approve payments charged to university accounts.