April 2025

We are pleased to announce that the university’s updated Credit Card Policy is available on the University’s Policies website. A Credit Card Program webpage has also been added to the Finance Division’s website, providing information on the University credit card program including contact information for Card Compliance, the unit within the Division of Finance that administers the program. Updating the Credit Card Policy was a collaborative effort with many colleagues across campus whose input was very much appreciated.

Updating business policies is one of several key objectives of the ADAPT ’25 initiative. Other policies ‘under construction’ include the Travel and Business Expense Policy, the Procurement Policy, and Fiduciary Responsibility Policy.

Another objective of ADAPT ’25 is the implementation of Unimarket, an online Procure-to-Pay system integrated with Banner Finance, the university’s financial system of record. Unimarket will revolutionize how we do business at Seton Hall.  A few Divisions have agreed to participate as soft go-live participants which will begin shortly, with the goal of completing university-wide implementation by June 30.

Following productive meetings with all University divisions, the development of the FY26 operating budget is proceeding as per the FY26 Budget Development Calendar here.

The ultimate goal is to present a balanced FY26 Operating Budget that includes strategic initiatives to the Board of Regents in June for their approval.

Questions / suggestions / concerns?
Contact us at: OfficeoftheCFO@shu.edu. 

Ed Bishof
Interim Vice President for Finance and Chief Financial Officer

Purchase Requisition (“Req”)

A purchase requisition is an internal document to request the acquisition of goods, materials, equipment, supplies, etc.

It is the first step in a structured procurement process, and it formally documents the need for the purchase before the actual purchase occurs.

A budget check is performed automatically by the system at the time a purchase requisition is created to ensure sufficient funds are available for the purchase.

Unlike a purchase order (which is sent to suppliers), a purchase requisition remains within the university and requires proper approval before moving forward in the buying workflow.

Purchase Order (“PO”)
A formal order which is electronically sent to a supplier/vendor. Once a PO is accepted by the supplier/vendor, the PO becomes a legally binding contract.

Steps in the Procurement Cycle:

An employee identifies a need and submits a Purchase Requisition.

The Requisition goes through automatic budget check and then into an automated internal approval process.

Once approved, the purchasing department converts the Requisition into a Purchase Order.

The Purchase Order is sent to the supplier electronically.

The supplier accepts the Purchase Order, creating a binding contract.

Goods or services are delivered according to the terms.

The invoice from the supplier is received electronically, approved by appropriate employee, and promptly paid by the Accounts Payable Department (typically by ACH, otherwise by check or credit card).

This sequence ensures internal control protocols are followed inclusive of appropriate purchasing authorization before financial commitments are made to external parties.

Banner Finance Index (“Index”)

A 6-digit code that identifies the source of funds. For example, a department’s annual operating budget is identifiable by the Banner Finance Index number assigned to it. 

Finance Open Forums

We invite the campus community to join us at an upcoming Open Forum where we will give a brief overview of the revised Credit Card Policy followed by a short demonstration of ‘procuring’ via the Marketplace in Unimarket:

Contact Information:
Division of Finance
Bayley Hall, 2nd Floor
OfficeoftheCFO@shu.edu