The Siena College Board of Trustees has authorized the President, Vice-President for Finance and Administration and Comptroller to encumber College assets in the normal operation of the College and all College resources are to be utilized in an efficient, appropriate manner by authorized individuals.
All funds received by the College, regardless of their character or source, must be administered under the terms of the Authority to Act Statement, in conjunction with the College’s Purchasing Policy and/or Travel and Entertainment Policy and, pursuant to applicable laws and regulations. The Vice-President for Finance & Administration (VPFA), Comptroller and President are the only individuals authorized to sign contracts on behalf of the College, regardless of the $ amount.
Transacting for normal College operations includes varying degrees of complexity and financial parameters. Thus, the Authority to Act is delegated accordingly and financial/contractual commitments and related responsibilities are defined by various levels.
I. General Procurement
Level I Transactions: routine transactions < or = $5,000.
Level I transactions are for goods & services (exclusive of travel and entertainment) under $5,000, that do not require a contract, and are the result of normal recurring business operations.
The budget administrator for the originating department, in conjunction with the Director of Auxiliary Services & Procurement has the authority to act without consultation and/or Vice-President Approval.
Purchases must be made in accordance with the College’s Purchasing Policy, with the Director of Auxiliary Services & Procurement being authorized as the decision maker with regard to vendor selection.
Level II Transactions: transactions < or = $5,000 and requiring a contract
Level II transactions are for goods & services (exclusive of travel and entertainment) under $5,000 that require a contract, and may or may not be the result of normal recurring business operations.
The department head will work with the Director of Auxiliary Services & Procurement to select an appropriate vendor(s). Following the demonstration of due diligence regarding selection of the vendor, the department head and the appropriate Vice-President will conceptually approve a contract in writing, and select a contract administrator, before advancing the contract to College Counsel or the Contracts Administrator for legal review. Once approved by College Counsel or the Contracts Administrator the contract can then be signed. Only the VPFA, Comptroller or President can sign contracts on behalf of the College. Contracts of this dollar amount will generally be signed by the Comptroller or VPFA.
Level III Transactions: transactions between $5,000 & $99,999
These purchases are required to go through a competitive bid process as coordinated by the Director of Auxiliary Services and Procurement.
If an allocation has been approved as part of the Capital Budget, transacting approval is required of the Director of Auxiliary Service and Procurement and the originating department head.
Bids between $49,999 & $99,999 will also require review of the Comptroller.
If an allocation has not been approved as part of the Capital Budget process, approval of the appropriate Vice-President and the Vice-President for Finance & Administration is required prior to the undertaking of the bid process.
In cases where a contract is required, following the demonstration of due diligence regarding selection of the vendor, the department head and the appropriate Vice-President will conceptually approve a contract in writing, and select a contract administrator, before advancing the contract to College Counsel or the Contract Administrator for legal review. Once approved by College Counsel or Contract Administrator the contract can then be signed. Only the VPFA, Comptroller or President can sign contracts on behalf of the College. Contracts of this dollar amount will generally be signed by the Comptroller or VPFA.
The College recognizes that certain purchases/contracts are so specialized that it is more prudent to delegate the purchasing and/or contract negotiations to the department with the expertise. For those departments, (typically including Facilities Management, Information & Technology Systems and Athletics) a portion of the pre-contract/purchase due diligence is delegated to that department, under the coordination of the Director of Auxiliary Services & Procurement. See attached Facilities Purchase Procedures for reference.
Level IV Transactions: transactions for $100,000 or more
These purchases are required to go through a competitive bid process as coordinated by the Director of Auxiliary Services and Procurement.
Appropriate approvals as outlined under “Contracts” must be obtained, in writing, before obtaining bids.
The “winning bid” must also be approved, in writing, by the authorized individuals prior to advancing the contract to College Counsel for legal review.
Generally it is expected that the solicitation of goods and services at this dollar level will be undertaken via a formal “request for proposal” (RFP).
The vendors included in the RFP must be approved by the VPFA and if applicable reviewed by College Counsel or Contract Administrator.
If the purchase is part of a larger contract that has already been approved and appropriately bid, the Director of Auxiliary Services and Procurement has the authority to act without additional approvals.
II. Contracts
Signatories & Review Process
The Vice-President for Finance & Administration (VPFA), Comptroller and President are the only individuals authorized to sign contracts, regardless of the $ amount.
Contracts of $100,000 or more require VPFA and President pre-approval.
Contracts of $500,000 or more require VPFA and President pre-approval and review with members of the Budget & Finance Committee of the BOT.
Contracts of $1,000,000 or more must be reviewed by the Budget & Finance Committee and advanced to the full BOT for approval. In the case of construction or financing projects that have been pre-approved via BOT resolution that sets financial and other expectations, contract review can be limited to the Chair of the Budget & Finance.
Pre-approval protocols
All contractual purchases must also be in accordance with the College’s Purchasing Policy (see attached) including adherence to the established bid process.
The department head and the appropriate Vice-President may conceptually approve a contract in writing before advancing the contract to College Counsel or Contract Administrator for legal review. Once approved by College Counsel the contract can then be presented to the appropriate individuals for final approval and signature.
A contract administrator must be designated prior to the legal review.
The College recognizes that certain purchases/contracts are so specialized that it is more prudent to delegate the purchasing and/or contract negotiations to the department with the expertise. For those departments, (typically including Facilities Management, Information & Technology Systems and Athletics) a portion of the pre-contract/purchase due diligence is delegated to that department, under the coordination of the Director of Auxiliary Services & Procurement. See attached Facilities Capital Purchases procedures for reference.
Administrative Procedures
The Auxiliary Services & Procurement office will be responsible for coordinating the bid processes and maintaining all appropriate documentation.
The appropriate department head and VP will be responsible for contract compliance and the Office of Finance & Administration (Comptroller’s Office) will monitor compliance.
Approved: September 26, 2014