Nevada State College shall use reasonable care reviewing all contracts in the most expeditious and judicious manner. Any purchase contract with an aggregate contract value not to exceed $50,000 may be executed by an authorized institutional approver without further review by legal counsel provided the language of the contract is good to form as determined by the judgment of the Vice President for Finance and Business Operations (VPFBO) or designee. In such cases, the VPFBO shall be responsible for the review of the contract.
Consistent with the Board of Regent’s Efficiency and Effectiveness initiative’s recommendations, “lower level purchasing below $50,000 is the responsibility of each institution” and campus contracting officials “must have sufficient delegated contracting authority” to execute agreements and the corresponding Purchase Orders, if any, in a timely and responsible manner. The internal review limit for purchase contracts shall be at the same limits as the maximum requirement for one quotation as established by the current competitive threshold requirements.
This policy and procedure should reduce procurement processing time between one to three weeks, which will strengthen college-vendor relations.
A. All contracts will be sent for campus review via email attachment, preferably in MS Word format, to Contracts@nsc.edu.
B. All contracts will be reviewed by the VPFBO or designee in accordance with the standards outlined in Chapter 5, Section 3 of the Nevada System of Higher Education Procedure and Guidelines Manual.
C. Following the review by the VPFBO (or designee), contracts determined to be in good form with reasonable terms and conditions whose aggregate contract value is less than $50,000, may be negotiated between the contractor and the institution and executed by an approved campus signatory without further review from legal counsel.
D. In accordance with the Board of Regents bylaws, the following contracts will always be forwarded to legal counsel for the Chancellor’s approval:
Approved by President Bart Patterson, December 31, 2014.