11.11-11.15

Finance and Document Execution Authority

Effective Date: 09/01/2010

11.11 Disposal of Surplus Property

  1. Surplus equipment and materials may be disposed of to the highest bidder, subject to the following:
    1. Items valued at $50,000 or less, in aggregate may be offered, subject only to subsequent reporting to the Board.
    2. Disposal of items valued in excess of $50,000 in aggregate requires prior Board of Trustees approval.
    3. Items may be disposed of to a governmental agency or other educational institution at fair market value prior to offering on a bid basis with the approval of the Treasurer.
  2. Those items which are surplus, obsolete or unusable, if such items clearly have insufficient value to warrant an effort to dispose of them on a bid basis, may be sold as scrap or junk at a price believed in good faith by the Manager of Purchasing to be the reasonable market value thereof, or if not salable may be discarded in the most economical manner feasible. Disposal of all scrapped or junked equipment and materials shall be reported to the Board of Trustees subsequent to its disposal.
  3. The Manager of Purchasing, or its designee, is authorized to sell, on first come-first served basis, surplus equipment and materials which are impractical to dispose of on a bid basis, without prior Board of Trustees approval, subject only to subsequent reporting to the Board and receipt of a price believed in good faith by the Manager of Purchasing to be the reasonable market value thereof.
History
08/11/67
12/12/69
05/22/81
01/28/82
01/27/84 Added item 3
01/17/86 Revised item 1, increased amount to $30,000
03/23/90 Director of Purchasing and Office of Services to Director of Business Operations
09/18/92 Treasurer/Chief Financial Officer
03/19/93 Manager of Purchasing
09/24/99 Changed Chief Financial Officer's title to Vice President for Finance and Administration
03/15/2002 Added "or designee," increased amount to $50,000, changed items 1.c and 3., removed Vice President for Finance and Administration
07/15/2010 Was previously Policy 13.14. Renumbered and clarified language of Paragraph 2.

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Effective Date: 09/01/2010

11.12 Disposal of Abandoned/Lost Property

The Director of Public Safety and Police Services shall maintain an accounting of all monies, goods, merchandise or other items of value deposited in his or her office as lost or abandoned property found on the campus of Michigan Technological University. At least twice each calendar year the Director shall post a notice of all such property that remains unclaimed. The notice shall provide any owner(s) of such property the right to claim it at reasonable times.

The Director, on receiving satisfactory proof of ownership, shall deliver such property to the owner on payment of all necessary and reasonable expenses which may have been incurred in its recovery, storage and advertising.

The Director shall sell all property, money excepted, unclaimed after expiration of the above notice at public action to the highest bidder through sales procedures established by the Director. The proceeds shall be paid to the University Cashier together with all money which shall remain unclaimed.

If any such property is perishable or expensive to keep, the Director may sell the same at public action at such time and after such notice as the Director deems proper.

History
08/08/75
01/28/82
07/15/2010 Was previously Policy 15.11. Renumbered and modified to retain property or sales proceeds for University benefit consistent with constitutional autonomy.

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Effective Date: 12/18/2015

11.13 Signing Contracts and Other Legal Documents

The President of the University, pursuant to his general authority and responsibility for the operation of the University and in accord with the General Policies laid down by the Board may execute any documents unless they go beyond or deviate from the Board's established objectives. The Chair, the Vice Chair, the Secretary, and the Treasurer of the Board are authorized to sign and execute documents within their general powers as officers, or in certain cases, under specific authority.

The following types of specific agreements may be executed only by the officers or persons noted unless otherwise designated by the President or requiring Board of Trustees approval.

  1. Employee Patent Agreement, Employee Patent, Research and Proprietary Rights Agreement, Adjunct Professor Patent, and Proprietary Rights Agreement, Graduate Student Patent, Research and Proprietary Rights Agreement:

    President, Provost and Vice President for Academic Affairs, Vice President for Research, or Treasurer, provided that the President or Treasurer may delegate the authority in writing to any member of the staff.

  2. Licenses for patents or technology owned by the University, including licenses and options for licenses contained in research and other agreements:

    President, Provost and Vice President for Academic Affairs, Treasurer, or Vice President for Research.

  3. Technology transfer agreements:

    President, Provost and Vice President for Academic Affairs, Treasurer, or Vice President for Research.
  4. Non-disclosure Agreements, including for purposes of the Freedom of Information Act; confidential Research and Investment Information Act; Uniform Trade Secrets Acts and any other State of Federal Law or Regulation relating to disclosure or non-disclosure:

    President, Provost and Vice President for Academic Affairs, Treasurer, Vice President for Research, or Director of Innovation and Industry Engagement.

  5. Software and trademark licenses from or to another party:

    President, Provost and Vice President for Academic Affairs, Vice President for Research, Chief Information Officer, Director of Innovation and Industry Engagement, Treasurer, or those staff members designated in writing by the Treasurer.

  6. Easements received from another party:

    President, Secretary, or Treasurer.

  7. Rentals and leases, to and from other parties:

    President, Vice President for Administration, Vice President for Research, Secretary, or Treasurer, provided that the Treasurer may delegate in writing, to any staff member the authority to execute agreements for room and board and apartment rentals.

  8. Research, training, educational, and other sponsored activities proposed, gift requests, agreements and grant applications requiring assurance of compliance with federal and/or state law, including subcontracts/agreements and service agreements related to these agreements:

    President, Vice President for Research, Provost and Vice President for Academic Affairs, , Secretary, Treasurer, provided that the Vice President for Research may delegate in writing, to any staff member, the authority to execute such documents.

  9. Labor agreements with Local 1166, AFSCME and Local 5000, UAW:

    President, Vice President for Administration, or Director of Human Resources.

  10. Educational and International agreements:

    President, Provost and Vice President for Academic Affairs, Secretary, or Treasurer.

  11. Agreements for payment of tuition, fees, room or board by domestic and foreign organizations:

    President, Provost and Vice President for Academic Affairs, Secretary, or Treasurer.

  12. Purchase order for services, including personal services for University enrichment, supplies, or equipment:

    President, Provost and Vice President for Academic Affairs, Treasurer, or Manager of Purchasing, or those staff members designated in writing by the Manager of Purchasing with the approval of the Treasurer. Purchase requisitions must be signed or countersigned by the Treasurer and/or President when required by the Board policy relating to capital additions.

  13. Dispositions of real property:

    The President may sell and execute deeds of conveyance of real property, including easements, having a fair market value of $3,000,000 or less.

    The President, Vice President for Administration, Secretary, or Treasurer may sell and execute deeds of conveyance of real property, including easements, having a fair market value of in excess of $3,000,000 only upon formal approval of the Board of Trustees.
  14. Capital outlay projects funded by special state appropriations:

    President, Vice President for Administration, Treasurer, or any staff member designated in writing by the Treasurer.

  15. Casualty and property insurance:

    President, Secretary, or Treasurer provided that the President or Treasurer may delegate this authority in writing, to any staff member.

  16. Employee benefits:

    President, Vice President for Administration, or Treasurer provided that the President, Vice President for Administration, or Treasurer, may delegate this authority in writing, to any staff member.

  17. Agreements with domestic governmental and foreign governmental organizations except those specifically mentioned earlier:

    President, Provost and Vice President for Academic Affairs, Secretary, or Treasurer.

  18. Athletic agreements or contracts and contracts for game officials:

    President, Vice President for Student Affairs, Athletic Director, or Department Chair of Kinesiology and Integrative Physiology.

  19. Programmer and/or Analyst Proprietary Rights Agreement:

    President, Provost and Vice President for Academic Affairs, Vice President for Research, Vice President for Administration, or Treasurer, provided that the President, Vice President for Research, or Treasurer, may delegate this authority in writing, to any staff member.

  20. United States Department of Treasury, Bureau of Alcohol Tobacco and Firearms annual report:

    President, Provost and Vice President for Academic Affairs, Secretary, or Treasurer.


History
06/15/73 supersedes
08/24/73
04/26/74
06/07/74
04/23/76
06/11/76
05/20/77
10/14/77
01/28/82
03/25/83 revised 1, 21, and added 23
09/20/85 added item 11
01/17/86 revised 12, 17, and 24
09/19/86 revised 18
01/19/89 complete revision due to organizational restructuring
09/22/89 revised 4
03/23/90 revised 12, 13, 14, 15, and 23
09/18/92 revised 13, 21 and deleted paragraph 3
03/19/93 revised 4, 12, 14, 15 and 23
07/16/93 Included the Executive Vice President/Provost in all sections
01/21/94 revised 8, 9, 10, & 11
09/27/96 revised 4, 14, 23
09/24/99 revised 1, 2, 3, 4, 5, 8, 15, 16, 17, 20 22 - added Senior Vice President for Advancement and University Relations and Executive Director of Corporate Relations on items 4 and 5
01/21/2000 Change department name from Corporate Relations to Corporate Services and add trademark licenses to item 5
08/03/2000 Change in title for the Provost and Senior Vice President for Academic and Student Affairs
12/15/2000 Added Provost and Senior Vice President for Academic and Student Affairs to the first five items
03/15/2002 Added Vice President for Research to items 1,2, 3, 4, 5, and 22 and changed Vice Provost for Research and Dean of Graduate School to the Vice Provost for Research in items 9, 10, and 11
10/03/2002 Revised 14 to include foreign agreements
06/25/2003 Clarified the types of research documents in items 9, 10, and 11
12/10/2004 Revised provost's title to provost and senior vp for academic affairs in all items; deleted provost from 12, 18, 19, and 21; added vp for administration in 16, 17, 19, 21, 22; added vp for research in 8; deleted any references to senior vp for advancement and marketing; deleted 9, 10, 11 and combined in one item; added international agreements to 13
12/15/2006 Revised to provide the Chief Information Officer and signatory approval for software and trademark licenses, and to reflect a title change to the provost and vice president for academic affairs and director of technology and economic development
07/15/2010 Was previously Policy 13.7. Renumbered, corrected officers authorized to be consistent with current University positions and consolidated the authority of the President, deleted last paragraph, minor changes for Legislative compliance.
02/23/2012 Changed department name in items #4, #5 and #19. Changed VP for Administration to VP for Student Affairs in item #19.
12/18/2015 Authorizes President to acquire property with a value up to $3,000,000.

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Effective Date: 04/29/2016

11.14 Risk Management

The University is to be protected against fortuitous loss or losses which, in the aggregate, during any financial period, would significantly affect University property, personnel, the budget or the ability of the University to continue to fulfill its educational role in the State of Michigan.

The University will apply to risks of fortuitous loss the risk management process which includes a systematic and continuous identification of loss exposures, the analysis of these exposures in terms of frequency and severity probabilities, the application of sound risk control procedures and the financing of risk consistent with University financial resources.

History
06/15/73
04/25/75 Insurance
01/28/82
09/18/92 Changed responsibility
01/21/2000 Changed responsibility for the risk management function from the Treasurer/Chief Financial Officer to the Vice President for Governmental Relations and Secretary of the Board of Trustees
07/15/2010 Was previously Policy 13.8. Renumbered only.
04/29/2016 Deleted responsibility.

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Effective Date: 09/01/2010

11.15 Workers Disability Insurance

The administration is authorized to self-insure workers disability up to $400,000 of incurred losses per year and to insure losses in excess of that up to $5,000,000.

History
07/17/81
01/28/82
01/17/86 Increased amount to $355,000
01/22/88 Increased amount to $400,000
07/15/2010 Was previously Policy 13.21. Renumbered only.

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