Chapter 5 - Administration
Date of Adoption: 7/28/96,
Date of Implementation: 7/28/96,
Date of Last Review: 5/17/16,
Date & Subject of Revisions:
5/17/16 - Amended title to include income contracts. Amended to comply with policy requirements in Policy 5.14. Amended Part 5 to prohibit pre-payments except allowable in Minn. Stat. § 16A.065. Amended Part 6, Subpart B to require single source exception form. Amended Part 9 to require consultation with the vice chancellor-chief financial officer prior to executing an income contract exceeding $1,000,000 or five years and contracts of any value involving bond financed property. Other formatting changes throughout for consistency with other policy and procedures.
1/25/12 - The Chancellor amends all current system procedures effective February 15, 2012, to change the term "Office of the Chancellor" to "system office" or similar term reflecting the grammatical context of the sentence.
03/25/10 - Increases college and university authority to enter into individual contracts up to $100,000; clarifies that contracts over $100,000 need the approval of the vice chancellor-chief financial officer; intra-agency and inter-agency agreements, joint powers agreements and master contracts with a value in excess of $1,000,000 require approval by the vice-chancellor-chief financial officer.
06/21/00 - Contains language formerly in system procedure 5.5.1;
04/99 - Part 7 modified because of changes in MS 363.073
07/97 - Part 7, dollar figure went up from $50,000, due to Legislative changes