Kentucky State University Business Policies and Procedures Manual
Banner – security class for Purchase Orders
Lexicon contract management software (CMS)
Frequency and timing:
Ad hoc, as contractor needs are identified
Steps:
The contract requester will:
General Counsel reviews the draft contract, makes any necessary changes, and returns it to the requester.
The requester sends the reviewed contract to the vendor for signature.
The vendor returns the signed contract to the General Counsel.
General Counsel signs and submits the contract to the CFO (up to 5K), Board of Regents (> 250K) for approval, or President ( $ 5K-250K $).
CFO approves any contract that requires expenditures of less than $5K and gives to Purchasing.
Board of Regents must approve the contract if it requires expenditures of more than $250K in a single fiscal year before the President may sign the contract.
The President signs any contract that requires expenditures of more than $5K and gives to Purchasing.
Purchasing will:
Identify a need to be filled by a personal services contractor, memorandum of agreement or a lease agreement.
Determine whether sufficient budget is available to meet the need.
Submit a budget transfer request if insufficient budget exists in the funding source.
Ensure the contract is allowable from the funding source.
Understand additional approvals are required prior to commencing any services.
Communicate with Purchasing determine whether the request requires a Request for Bid for amounts over $40K (see Request for Bid section) and to help source the need.
Prepare a Proof of Necessity (PON) justification from the available template; not required for lease agreements.
Prepare a draft contract agreement.
■ Contract forms and templates contain the University's standard terms and conditions and must be used to the fullest extent possible. If the University's forms and templates cannot be located on the University's Purchasing webpage, contact the Office of General Counsel.
Submit the draft contract to the General Counsel for review.
File a copy of the fully executed and approved contract to Lexion CMS.
Submit the approved PSC or MOA with PON, when applicable, to the State's Government Contract Review Committee; leases do not require committee approval.