Contract & Spend Authority Policy and Procedure (Effective 11/01/2025)
Policy
The purpose of the Contract & Spend Authority Policy and Procedure is to establish requirements for authorizing University expenditures, as well as the review, execution, and oversight of agreements that create legally binding obligations on the University.
Summary of Key Updates – Spend Authority
We’ve increased the dollar threshold for each Cost Center Manager (CCM) approval role in Workday. This change will streamline the approval process for certain expense reports, invoices, and other purchasing transactions.
Individuals who hold certain CCM roles will be required to participate in regular financial training relevant to their approval responsibilities. More information about this will be shared in the coming weeks.
Summary of Key Updates – Contract Signature Authority
The number of individuals authorized to sign contracts on behalf of the University is being reduced. This change mitigates the risk of signing agreements with unfavorable terms or agreements that do not adequately manage institutional risk associated with purchasing goods or services.
In addition to the Legal Department’s review of contracts over $250,000, other administrative reviews may be necessary depending on the content of a contract. For a detailed breakdown of these reviews and their specific criteria, refer to Section 2 of the Contract Management Process, which is located in the Administrative Procedure.