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The Board of Trustees has approved comprehensive updates to the university’s policy on signing authority for contracts and invoices, and the accompanying procedures. The approval follows extensive consultations across ºÚÁϳԹÏ×ÊÔ´ portfolios and input from the Finance, Assets, and Strategic Infrastructure Committee to inform the updates.

Most notably, Board approval is now required for contracts to purchase goods and services that are greater than $10 million (an increase from $5 million). The new limits retain an appropriate balance of risk and authority and are aligned with policies at peer universities.

In addition, sections were added to address gaps identified through community consultation. Examples include a new Ontario Transfer Payments Agreements section covering four contract categories, and an Other Funding Agreements in the Normal Course of Operations section covering agreements that are for activities that support the university's academic, research and community service mandates.

Clear and controlled delegation of signing authority provides current and efficient administrative infrastructure, along with the necessary guardrails, to ensure ºÚÁϳԹÏ×ÊÔ´ can act on funding and other opportunities in a timely manner, and that spending occurs with appropriate oversight and stewardship.

The updated policy and procedures are available on the University Secretariat’s website.

Questions about these changes can be directed to vpfa@queensu.ca.