6.1.3 Signing Authority

Section 6: Review and Assessment Functions
6.1 Finance
6.1.3 Signing Authority

Date initially approved: May 22, 1986
Date revised: May 13, 2009; December 14, 2011; February 8, 2012; January 21, 2015; February 10, 2016

Signing Authority Policy

1. Purpose

The primary purpose of this policy is to outline the Board of Regent’s approach to the delegation of signing authority with respect to the business operations of Campion College.

2. Background

Campion College was established by an Act of the Legislature of the Province of Saskatchewan effective December 15, 1917. In conjunction with the Act, Campion College has powers as conferred upon corporations by the laws of Saskatchewan as well as certain other powers (i.e., acquire and dispose of land, invest money, build buildings and borrow money).

To facilitate efficient and effective operations, the Board of Regents delegates certain of its authorities to the management of Campion College, in particular, its approach to signing authorities within the College.

The delegation of authorities is an internal control tool based on appropriate segregation of duties or division of responsibilities. This internal control comprises policies, standards, procedures, and related activities planned, organized, directed, and monitored by management to ensure that public monies are appropriately disbursed and accounted for. Controls are adequate if management has planned and organized in a manner that provides reasonable assurance that related risks will be managed effectively.

3. Board of Regent’s Approach to the Delegation of Signing Authority

The Board of Regent’s recognizes the importance of having a well-documented delegation of signing authorities for the College. Furthermore, it is the Board’s expectation that the President of Campion College has a formally documented delegation of signing authorities in place and is formally communicated to the Board of Regents, through an annual declaration to the Board of Regents, along with the current signing authority document.

The Board of Regents retains authority for governing policies and related deliverables such as the strategic plan, annual budget, and appointment of bankers, lines of credit, investment policies, appointment of auditors, annual financial statements and insurance strategy.
The Board of Regents delegates authority to the management of Campion College for day to day business operations such as contracts within budget, cheques, expense claims, and job offers.

4. Delegation of Authority by Authorized Signatories

Authorized signatories for operational and academic affairs follow:

Operational Affairs

• Executive Director Administration & Finance
• President

Academic Affairs

• President
• Dean
• Assistant Dean

Contracts can be approved and signed by individuals who are not designated as “Authorized Signatories” only if, and to the extent, they have been given written authority to do so by an authorized signatory.

A person who is not an authorized signatory may only enter into binding contract negotiations, or approve or execute a contract on behalf of the College, with explicit written permission from an authorized signatory who is her or his department head or supervisor. Those signing without such authority may incur personal liability, and/or may be subject to discipline by the College, including termination.

Operational Affairs: Capital Expenditures

a. New Capital Projects

• “New Capital Project” expenditures over $200,000 must be approved by the Board.
• “New Capital projects” includes the purchase or construction of land, buildings, property, plant, equipment and other capitalized assets.
• Dollar amounts shown are inclusive of all capital costs, fees, etc. required to deliver the final project.

NOTES

• All new capital projects not meeting target financial results must be approved by the President and Executive Director of Administration and Finance.
• Approval authorities are limited by the annual capital budget and subsequent quarterly forecasts. Capital projects not included in the budget / forecast must be approved by the Board of Regents.

b. Capital Maintenance Projects

• Expenditures over $200,000 must be approved by the Board.
• “Capital maintenance projects” captures all work performed on existing buildings, property, plant, equipment and infrastructure of a capital nature (will be capitalized as part of assets as per policy 6.1.11 “Asset Capitalization Guideline Policy”).

NOTES

• Approval authorities are limited by the annual capital budget and subsequent quarterly forecasts. Capital projects not included in the budget / forecast must be approved by the Board of Regents.

c. Capital Progress Payments (for new capital projects and capital maintenance projects)

• Capital projects that have been authorized and are on budget, and require progress payments must be authorized by the Executive Director of Administration & Finance and the President.
• Where payment would lead to the project being over-budget, the over-expenditure must be appropriately approved before payment can be authorized:

d. Change Orders

• Approval limits where the total cost does not exceed the original approved budget. If the change order(s) result in the total project cost exceeding the original approved budget, project over-expenditure limits apply.

Operational Expenditures

1. Operating, General and Administrative Expenditures

• Approved authorities are limited by approved budgets by the Board of Regents. If the budget is exceeded, the expenditure must be approved by the President and the Executive Director of Administration & Finance.

2. Employee Expense Claims

• Expense reports for staff reporting directly to the President must be approved by the President.
• All other staff and faculty should have expense reports approved by the immediate supervisor, assuming the immediate supervisor has the authorization to approve the related expense items.

Execution of Legal Documents

1. Execution of Contracts, Leases, Rental and other Legal Agreements

2. Employment Agreements (existing positions)

• Any new positions will have to be approved through the annual operational budget process.

Write Offs

• Includes the write-off of all assets (receivables, investments, assets, etc.)
• A quarterly report for all write-offs will be prepared and provided to the CEO.

Investments

• All investments in equity or debt instruments and of treasury cash and liquid assets must be in accordance with Board of Regents Investment Policy 6.1.7.