To comply with Regents Policy on contracts.
- This policy is intended to be subject to and in compliance with Board of Regents policies on contracts.
- For purposes of this policy, a "contract" is any agreement or promise which purports to obligate the University1 to perform some responsibility or to take some specific action[s].
- All University contracts must be in writing and must be in the name of Wichita State University. Colleges, individual schools, divisions and departments shall not enter into contracts.
- The President, Provost and Senior Vice President, vice presidents on the President's Executive Team and General Counsel are the only individuals authorized to contractually bind the University by the execution of a contract. The President, Provost and Senior Vice President, vice presidents on the President's Executive Team and General Counsel may further delegate authority to execute contracts (and thereby legally commit) on behalf of the University with consideration given to the type of contract and the amount of revenue and expenses involved.
- All contracts or contract forms involving an expenditure of funds by the University in an amount of $250,000 or more must be approved by the President prior to execution on behalf of the University.
1 Unless otherwise noted, this policy is applicable only to Wichita State University. While it does apply to auxiliary enterprises of the University, it does not apply to affiliated corporations of the University. Items 6 and 7 in Chapter II, Section D of the Board Policy Manual defines auxiliary enterprises as self-supporting university-operated enterprises which include, but are not limited to, student housing, student health services, unincorporated student unions, and parking. The Board Policy Manual defines affiliated corporations as incorporated entities which are funded solely or primarily by monies other than state funds and whose purpose is to enhance or support the mission and activities of the institution. Affiliated corporations include, but are not limited to, alumni associations, incorporated student unions, boards of trustees, endowment associations, and athletic corporations.
This policy will be distributed to appropriate University personnel for dissemination and implementation.
(Note: The reader should also refer to the Foreign Gifts and Contracts Policy at Section 13.16 of this manual.)