In order to control and keep track of contracts, very few individuals have the authority to execute contracts on behalf of the University. The authority to execute contracts is reserved by the University's Board of Trustees except where the Board has specifically delegated its authority to execute certain types of contracts to campus officials. In many cases, the Board of Trustees has delegated principal authority to the President and Vice President for Administration and Finance to execute contracts on behalf of the University where the value of the contract is less than $150,000. In some cases for contracts of this size exceptions exist or other campus officials are responsible for execution of the contract. To fully understand the general rule, the exceptions, and specific delegations, you should review the Board of Trustees Contracting Policy prior to beginning the contracting process. What does this mean to you? If you are not the President or Vice President for Administration and Finance (or another specifically identified contracting authority), YOU DO NOT HAVE AUTHORITY TO EXECUTE CONTRACTS on behalf of the University unless the President, Vice President for Administration and Finance, or the Board of Trustees have specifically delegated to you (in writing) the authority to execute certain contracts. You may view the Board of Trustees Contracting Policy.