For Monetary Recognition Programs - What's a useful way to setup budgets?

Hi again!

Here at Banner, our monetary recognition program (MVP+) is setup for our top-level leaders (CEOs, VPs, etc.) to be the "Budget Owners", or Approvers, of all recognitions that come through for their teams. I think it would be so much more useful for our approvals to go to our lower-level managers instead of rolling up to the CEO who may be "out of the loop" with what's going on 20 direct reports below them. I'm wondering, at what leader-level do you all have your approvals set up at?