APPROVED: September 14, 1989
EFFECTIVE: September 14, 1989
REVISED: February 2, 1995
RE-REVISED: March 14, 1996
REPEALED: September 14, 2000
READOPTED: August 25, 2001
REVISED: September 10, 2014
REFERENCES: C.R.S. 23-60-101 and 102; 24-30-202; 23-5-106. State Fiscal Rules, Chapter 3, Sec. 1.11 and 1.38
/ Richard E. Martinez Jr. /
Mr. Richard E. Martinez Jr., Chair
In recognition of its fiduciary responsibility, the Board will exercise control over the administration by the System of funds, services, and property.
All arrangements which commit the Board to provide or receive services, goods, property, or money, are subject to this policy. This includes leases, revenue contracts, capital construction contracts, expenditure contracts, grants, allocations, awards, and any other similar arrangements, which may be entered into on behalf of the Board, the System, or any state system community college.
The Board hereby delegates to the System President or his/her designee the authority to approve training agreements; student financial aid or grants; capital construction contracts and other project documents acting in the capacity of principal representative for projects which have been funded by the General Assembly as line item (specific) appropriations and approved by the board: and personnel contracts which do not involve legislative liaison services. Further, the System President or his/her designee is hereby delegated authority to approve any other commitment to provide services, goods, property, or money by means of contracts, leases, and/or other arrangements, so long as they involve less than $500,000, or the equivalent, in the aggregate. System President shall inform the board of executed transactions or contracts that have a value in excess of $200,000. Further, the Board delegates to the System President or his/her designee the authority to receive all student financial aid monies. The System President or his/her designee is also delegated authority to receive gifts of services, goods, property, or money, so long as there is no debt or obligation attached to the gift and the Board is informed of receipts in excess $500,000, or the equivalent, in the aggregate. In addition, the System President or his/her designee is delegated authority to approve purchases of textbooks for resale up to $2 million per transaction.
The executive committee of the board is given authority to approve, in an emergency, amounts exceeding $500,000, subject to the ratification of the full board at the next scheduled meeting.
The Board chair and System President, in any of the above circumstances, may exercise the option of referring specific cases to the Board for action. The above delegation of authority is subject to the availability of funds within approved budgets; and actions must be consistent with federal and/or state statutes, State Fiscal Rules, Board policy and other state and federal rules and guidelines.
The Board hereby authorizes the System President to delegate authority to approve training agreements, student financial aid grants, and personnel contracts. The System President may also delegate authority to approve any other arrangements so long as the cost is not in excess of $200,000, or the equivalent, in the aggregate, with the exception of textbooks purchased for resale. The System President may delegate authority to college presidents up to $1 million per vendor, per year for the purchase of textbooks for resale. The System President may also delegate up to $150,000 to the college director of auxiliary services for the purchase of textbooks for resale. These delegations are conditional and contingent upon the college adhering to controls established by System President procedures implementing this policy.
The System President may delegate the authority to receive student financial aid monies, and to receive gifts, services, goods, property, or other money, so long as they are unencumbered and the Board is notified of receipts in excess of $500,000, or the equivalent, in the aggregate. Such delegation of authority shall be in writing to college presidents, college chief business officers or system vice presidents. Further delegation by the college presidents or the system vice presidents, for specific purposes below $50,000, is permitted.
The System President shall promulgate procedures as necessary to implement this policy. These procedures shall incorporate review to assure that legal requirements are met, and that there is approval by other state agencies and officials as required by statute and State Fiscal Rules. The System President may withdraw or restrict such delegation.