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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Viola Miller, Chief Financial Officer |
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PRESENTER(S): |
Viola Miller, Chief Financial Officer |
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Todd Mills, Director of Supply Chain |
TITLE:
title
UTA Policy - UTA.02.02 Contracting Authority Policy
end
AGENDA ITEM TYPE:
UTA Policy
RECOMMENDATION:
Receive and review the proposed revisions to UTA Policy UTA.02.02 Contracting Authority.
BACKGROUND:
Board Policy 1.1 requires new or revised UTA Policies to be submitted to the Board for review in a public meeting prior to the execution of the policy by the Executive Director. The proposed revision to UTA Policy UTA.02.02 will update the contracting authority policy that was last updated in April 2023.
The Contracting Authority policy applies to any type of contract the authority may enter into, and it identifies who may execute contracts or similar documents on UTA’s behalf. It also sets the approval levels required at various contract dollar thresholds and defines the corresponding processes for each level.
DISCUSSION:
The revisions made to UTA.02.02 include the following:
• Added “Associate CFO” to the definition of “Director” to identify the spending authority limit for the Associate CFO position.
• Increased the manager’s approval limit from $9,999 to $49,999
o Contract values up to this amount require signatures from legal counsel, the project manager, and the manager
• Increased the director’s approval limit from $74,999 to $124,999
o Contract values up to this amount require signatures from legal counsel, the manager, and the director
• Increased the Chief officer’s approval limit from $199,999 to $249,999
o Contract values up to this amount require signatures from legal counsel, the director, and the Chief officer
• Increased the change-order approval threshold requiring Board of Trustees authorization from 15% to 25% for contracts with a total value of $250,000 or greater, or for individual change orders valued at $250,000 or more.
• All contracts of $250,000 or more require approval from the Board of Trustees.
o Once approved by the Board of Trustees the contract requires signatures from legal counsel, the Chief officer, and the Executive Director
ALTERNATIVES:
If UTA Policy UTA.02.02 revisions are not adopted by the Executive Director, the current version of UTA.02.02 Contracting Authority policy approved in April 2023 will remain in effect.
FISCAL IMPACT:
The modifications to this policy do not create any increases to the budget.
ATTACHMENTS:
UTA.02.02 Contracting Authority Policy