4000-1-6Delegation of Signing Authority for Expenditure
Responsible Executive:
Senior Vice-President, Strategy & Corporate Services
Senior Vice-President, Strategy & Corporate Services
Issue Date:
March 31, 2017
Supersedes Date:
March 31, 2017
Last Review:
October 04, 2019
Last Revision:
October 04, 2019
Upon request, the college will provide a copy of this policy in an alternate format.
In support of good financial stewardship at Lambton College, all purchases of goods or services are to be authorized by a manager with the authority to do so.
Policy
As per Board Policy III-4, any purchases of goods or services committing the College to expenditures for an amount greater than $1,000,000 require the approval of the Board of Governors.
Any purchases of goods or services committing the College to expenditures of $1,000,000 or less shall be signed by the President or a designated manager to whom signing authority for expenditure within specified limits has been delegated.
The calculation of the commitment is to consider all related expenditures to be made concurrently or likely to be made over a multi-year period. Taxes and freight are not included in the calculation of the commitment.
The upper limits of delegated signing authorities are:
Table: Upper signing limits| Role | Limit |
|---|
| President | $1,000,000 |
| Vice-Presidents | $500,000 |
| Executive Deans/Directors | $250,000 |
| Director: Facilities Management; Information Technology; Finance | $100,000 |
| Directors, Deans, Associate Deans | $50,000 |
| Managers | $25,000 |
| All other College employees | $1,000 |
Authorized expenditures must be within approved current year budget limits.
Exceptions to this policy to accommodate special circumstances e.g. scholarship payments or routine expenditures for regular recurring business liabilities, e.g. hydro, gas, payroll, taxes and benefits, must be authorized in writing by the individual manager designated to do so as per Attachment 1 to this policy.
Purchases of goods or services will be made in accordance with the College Purchasing Policy.
Delegation of Signing Authority for Expenditures