The Office of the Vice President, Chief Financial Officer and Comptroller announces the publication of a new section of the Office of Business and Financial Policies and Procedures Manual. The new policy section is available at the following link: Section 19 Contracts.
This new policy section includes content that was previously located in 1 Introduction to Business and Financial Functions at the University of Illinois of the Business and Financial Policies and Procedures Manual. As part of this update and improvement effort, several subsections from the prior Section 1 have been modified or decommissioned, and the content has moved to the new 19 Contracts.
Highlights of the policy and procedural changes include:
- The threshold for certain Standard Contract Templates (pre-approved and unaltered) that unit heads are permitted to sign is unchanged at less than $10,000.
- Approval thresholds for contracts on a Contract Approval/Routing Form (CARF) or electronic approval in Illinois Contract System (iCS) have increased.
- $100,0000 - dean or director of the unit, or their delegate
- UIS: $25,000 or more, delegation not allowed
- $200,000 - university or System Offices chancellor/provost/vice president or vice chancellor/vice-provost/assistant vice president, or their delegate
- UIS: $50,000 or more, delegation not allowed
- Approval authority for contracts on a Contract Approval/Routing Form (CARF) or electronic approval in Illinois Contract System (iCS) may now be delegated. If the approval authority is delegated, the unit must maintain documentation of such delegation.
- The policy reaffirms that a university or the System Offices may reduce the dollar thresholds for which further levels of approval are required. They may also restrict the ability to delegate contract approval authority. Units should follow reduced approval thresholds and/or restricted delegation of approval, if modified by their university.
- The involvement of University Counsel for specific contracts is clarified.
- Policies and procedures relating to all aspects of contracts and the contracting process have been rewritten and reorganized to improve comprehension.
Contact
For questions contact the Business and Finance Policy Office at obfspolicies@uillinois.edu.
