11.1-11.5 | 11.6-11.10 | 11.11-11.15 | 11.16-11.17
11.11-11.15
Finance and Document Execution Authority
Effective Date: 09/01/2010
11.11 Disposal of Surplus Property
- Surplus equipment and materials may be disposed of to the highest bidder, subject
to the following:
- Items valued at $50,000 or less, in aggregate may be offered, subject only to subsequent reporting to the Board.
- Disposal of items valued in excess of $50,000 in aggregate requires prior Board of Trustees approval.
- Items may be disposed of to a governmental agency or other educational institution at fair market value prior to offering on a bid basis with the approval of the Treasurer or designee.
- Those items which are surplus, obsolete or unusable, if such items clearly have insufficient value to warrant an effort to dispose of them on a bid basis, may be sold as scrap or junk at a price believed in good faith by the Director of Purchasing to be the reasonable market value thereof, or if not salable may be discarded in the most economical manner feasible. Disposal of all scrapped or junked equipment and materials shall be reported to the Board of Trustees subsequent to its disposal.
- The Director of Purchasing, or its designee, is authorized to sell, on first come-first served basis, surplus equipment and materials which are impractical to dispose of on a bid basis, without prior Board of Trustees approval, subject only to subsequent reporting to the Board and receipt of a price believed in good faith by the Director of Purchasing to be the reasonable market value thereof.
History
- 08/11/1967
- 12/12/1969
- 05/22/1981
- 01/28/1982
- 01/27/1984: Added item 3
- 01/17/1986: Revised item 1, increased amount to $30,000
- 03/23/1990: Director of Purchasing and Office of Services to Director of Business Operations
- 09/18/1992: Treasurer/Chief Financial Officer
- 03/19/1993: Manager of Purchasing
- 09/24/1999: Changed Chief Financial Officer's title to Vice President for Finance and Administration
- 03/15/2002: Added "or designee," increased amount to $50,000, changed items 1.c and 3., removed Vice President for Finance and Administration
- 07/15/2010: Was previously Policy 13.14. Renumbered and clarified language of Paragraph 2.
- 08/04/2022: Updated title from Manager of Purchasing to Director of Purchasing, and added designee language.
Effective Date: 09/01/2010
11.12 Disposal of Abandoned/Lost Property
The Director of Public Safety and Police Services shall maintain an accounting of all monies, goods, merchandise or other items of value deposited in his or her office as lost or abandoned property found on the campus of Michigan Technological University. At least twice each calendar year the Director shall post a notice of all such property that remains unclaimed. The notice shall provide any owner(s) of such property the right to claim it at reasonable times.
The Director, on receiving satisfactory proof of ownership, shall deliver such property to the owner on payment of all necessary and reasonable expenses which may have been incurred in its recovery, storage and advertising.
The Director shall sell all property, money excepted, unclaimed after expiration of the above notice at public action to the highest bidder through sales procedures established by the Director. The proceeds shall be paid to the University Cashier together with all money which shall remain unclaimed.
If any such property is perishable or expensive to keep, the Director may sell the same at public action at such time and after such notice as the Director deems proper.
History
- 08/08/1975
- 01/28/1982
- 07/15/2010: Was previously Policy 15.11. Renumbered and modified to retain property or sales proceeds for University benefit consistent with constitutional autonomy.
Effective Date: 08/03/2023
11.13 Signing Contracts and Other Legal Documents
The President of the University, pursuant to his general authority and responsibility for the operation of the University and in accord with the General Policies laid down by the Board is authorized to sign any University contract or other legal document unless it goes beyond or deviates from the Board's established objectives. The President is further authorized to delegate in writing his or her signing authority for contracts or other legal documents to other University administrators, as appropriate, and to authorize those administrators to further delegate to the extent appropriate. Such delegations must be made at least annually and must be done in writing. The General Counsel and Secretary to the Board of Trustee must maintain a current register of such delegations on a publicly available website. The Chair, the Vice Chair, the Secretary, and the Treasurer of the Board are authorized to sign and execute documents within their general powers as officers, congruent with their fiduciary obligations to the University.
All contracts with a value of $1,000,000 or greater, with the exception of contracts for the provision or receipt of academic research services, require approval of the Board of Trustees prior to execution by the University except for sales of real property, which require Board of Trustees approval only if the fair market value is equal to or greater than $5,000,000. All contracts with a value of $500,000 or greater but less than $1,000,000 must be presented to the Board of Trustees as a subsequent information agenda item.
History
- 06/15/1973: supersedes
- 08/24/1973
- 04/26/1974
- 06/07/1974
- 04/23/1976
- 06/11/1976
- 05/20/1977
- 10/14/1977
- 01/28/1982
- 03/25/1983: revised 1, 21, and added 23
- 09/20/1985: added item 11
- 01/17/1986: revised 12, 17, and 24
- 09/19/1986: revised 18
- 01/19/1989: complete revision due to organizational restructuring
- 09/22/1989: revised 4
- 03/23/1990: revised 12, 13, 14, 15, and 23
- 09/18/1992: revised 13, 21, and deleted paragraph 3
- 03/19/1993: revised 4, 12, 14, 15, and 23
- 07/16/1993: Included the Executive Vice President/Provost in all sections
- 01/21/1994: revised 8, 9, 10, and 11
- 09/27/1996: revised 4, 14, 23
- 09/24/1999: revised 1, 2, 3, 4, 5, 8, 15, 16, 17, 20 22 - added Senior Vice President for Advancement and University Relations and Executive Director of Corporate Relations on items 4 and 5
- 01/21/2000: Change department name from Corporate Relations to Corporate Services and add trademark licenses to item 5
- 08/03/2000: Change in title for the Provost and Senior Vice President for Academic and Student Affairs
- 12/15/2000: Added Provost and Senior Vice President for Academic and Student Affairs to the first five items
- 03/15/2002: Added Vice President for Research to items 1, 2, 3, 4, 5, and 22 and changed Vice Provost for Research and Dean of Graduate School to the Vice Provost for Research in items 9, 10, and 11
- 10/03/2002: revised 14 to include foreign agreements
- 06/25/2003: Clarified the types of research documents in items 9, 10, and 11
- 12/10/2004: Revised provost's title to provost and senior vp for academic affairs in all items; deleted provost from 12, 18, 19, and 21; added vp for administration in 16, 17, 19, 21, 22; added vp for research in 8; deleted any references to senior vp for advancement and marketing; deleted 9, 10, 11 and combined in one item; added international agreements to 13
- 12/15/2006: Revised to provide the Chief Information Officer and signatory approval for software and trademark licenses, and to reflect a title change to the provost and vice president for academic affairs and director of technology and economic development
- 07/15/2010: Was previously Policy 13.7. Renumbered, corrected officers authorized to be consistent with current University positions and consolidated the authority of the President, deleted last paragraph, minor changes for Legislative compliance.
- 02/23/2012: Changed department name in items #4, #5 and #19. Changed VP for Administration to VP for Student Affairs in item #19.
- 12/18/2015: Authorizes President to acquire property with a value up to $3,000,000.
- 09/24/2018: Changed title in 7, 9, 13, 14, 16, 19. Replaced Vice President for Administration with Chief Financial Officer.
- 09/25/2018: Changed title in 16. Replaced Vice President for Administration with Chief Financial Officer.
- 01/02/2019: Changed title in 4 and 5. Replaced Innovation and Industry Engagement with Innovation and Commercialization.
- 08/04/2022: Change titles in 9 and 12 and removed Director of Innovation and Commercialization in 4. Increased conveyance authority amounts from $3,000,000 to $5,000,000. Added Secretary to authorization in 16. Employee benefits, and General Counsel in 1, 2, 3. Added designee language.
- 8/3/2023: Shift to an annual written delegation model for increased risk mitigation and public transparency. Requires Board approval for contracts in excess of $1,000,000, with the exception of contracts for the provision or receipt of academic research services and sales of real property with a fair market value of less than $5,000,000.
Effective Date: 04/29/2016
11.14 Risk Management
The University is to be protected against fortuitous loss or losses which, in the aggregate, during any financial period, would significantly affect University property, personnel, the budget or the ability of the University to continue to fulfill its educational role in the State of Michigan.
The University will apply to risks of fortuitous loss the risk management process which includes a systematic and continuous identification of loss exposures, the analysis of these exposures in terms of frequency and severity probabilities, the application of sound risk control procedures and the financing of risk consistent with University financial resources.
History
- 06/15/1973
- 04/25/1975: Insurance
- 01/28/1982
- 09/18/1992: Changed responsibility
- 01/21/2000: Changed responsibility for the risk management function from the Treasurer/Chief Financial Officer to the Vice President for Governmental Relations and Secretary of the Board of Trustees
- 07/15/2010: Was previously Policy 13.8. Renumbered only.
- 04/29/2016: Deleted responsibility.
Effective Date: 09/01/2010
11.15 Workers Disability Insurance
The administration is authorized to self-insure workers disability up to $400,000 of incurred losses per year and to insure losses in excess of that up to $5,000,000.
History
- 07/17/1981
- 01/28/1982
- 01/17/1986: Increased amount to $355,000
- 01/22/1988: Increased amount to $400,000
- 07/15/2010: Was previously Policy 13.21. Renumbered only.