Part 4 Subpart 4-1 Contracting Policy

Sec. 4-102. Contracting Authority of the Board.

The Board, as the body corporate having ultimate responsibility for the University, reserves to itself the obligation for review and final action on all contracts and areas not delegated by the Board to the President, Vice President for Administration and Finance; and for matters which concern solely Kendall College of Art & Design, the President of Kendall College of Art & Design. Specifically, the Board reserves to itself the responsibility (i) to approve all contracts for the University involving a cost greater than $150,000, to the extent that they are not governed by other policies, such as Subpart 4-2 and the University's Purchasing Policy, and (ii) to approve grant awards of $500,000 or more, and also to approve any grant award (regardless of amount) that requires more than a $150,000 cash match of University funds.