- Definition: For the purpose of this update, a “Contract” is a legally binding agreement whereby the University purchases goods or services, receives a grant or donation or makes a commitment to a third party.
- Scope: This update includes all Contracts, excluding the following types of agreements:
- Financial transactions (excluding leases) and establishing banking or brokerage accounts are not considered for the purpose of this review. These transactions and accounts require the signature of the Vice President for Finance & Administration.
- Bank and brokerage account signatories are not considered for the purposes of this review. Once accounts are established, signatories on these accounts are limited to the President, Vice President for Finance & Administration, Senior Controller and our overseas Program Directors and Associate Program Directors.
- Requisitions and purchase orders are not considered for the purposes of this review. Requisitions and purchase orders are governed by a different set of procedures and authorities. Please see the Purchasing Procedures here.
3. Record Keeping: All contracts of over $500 in value, regardless of where the contract is reviewed and signed in the University, when fully executed by both SLU and the other party, should be scanned and emailed to Purchasing firstname.lastname@example.org. The purpose of this procedure is to create a centralized data base of all University contracts. If you have any questions, please contact Nick Ormasen at X-5303 and/or April Wells X-5896.
Authorized Signatories - EXCLUDES ALL LEASES
President - Bill Fox - No limitation
VP, Finance & Admin. - Steve Hietsch - No limitation
Chief Facilities Officer - Dan Seaman - Up to $100,000 (only Facilities related contracts, excludes leases)
Director, Purchasing - Nick Ormasen - Up to $25,000 (excludes leases)
VP & Dean of Student Life - Hagi Bradley - Up to $10,000 (only Student Life related contracts, excludes leases)
VP, Communications - Paul Redfern - Up to $10,000 (only Communications and NCPR related contracts, excludes leases)
VP, Advancement - Tom Pynchon - Up to $10,000 (only Advancement related contracts, excludes leases)
Academic Department Chairs - Up to $5,000 (only speaker, performer, art loan, and other SLU approved template contracts, excludes leases)
Please make sure that the individuals who are authorized to sign contracts have sufficient time to read, review and, if applicable, make inquiries or engage in negotiations about the Terms of the Contract.