Ohio Administrative Code › Title 3361:10 - University of Cincinnati › Chapter 3361:10-1 - Board of Trustess Bylaws › Section 3361:10-1-06 - Board of trustees bylaws: execution of instruments

Current through all regulations passed and filed through July 1, 2024
(A) No contract,
			 agreement, promise, bank account, or other undertaking in the name of the
			 university of Cincinnati or purporting to be made for, or on behalf of any
			 college, school, department, division or other part of the university of
			 Cincinnati, shall be made by any of its officers, agents, or employees or by
			 any student, faculty, or alumni organization, enterprise, or association
			 whatever, unless the same shall have been first authorized by the board of
			 trustees of the university or in pursuance of authority conferred by the
			 university rules.
(B) Whenever the
			 board of trustees shall have authorized or ratified the making of any contract
			 or the execution of a written instrument of any kind involving a sum or sums in
			 excess of five million dollars, the chairperson or in his/her absence a vice
			 chairperson, and in his/her absence the chairperson of the finance and
			 administration committee, shall, without special authorization by the board,
			 execute and deliver such documents as may be necessary or proper for the
			 performance of the university's obligations thereunder. The signature of a vice
			 chairperson to any such writing shall, when attested and authenticated, as
			 provided in these bylaws, be conclusive as to the absence of the chairperson,
			 and the signature of the chairperson of the finance and administration
			 committee to any such writing shall, when attested and authenticated, as
			 provided in these bylaws, be conclusive as to the absence of the chairperson
			 and a vice chairperson. All instruments executed by the chairperson, vice
			 chairperson or chairperson of the finance and administration committee shall be
			 reported by the secretary at the next regular meeting of the board.
(C) Contracts involving the purchase or sale
			 of operating real estate must be approved by the board of trustees, regardless
			 of amount. Other contracts involving sums of one million nine hundred
			 ninety-six thousand five hundred dollars or less may be executed as
			 follows:
(D) All non-sponsored
			 contracts, purchase orders, and modifications thereof that require the
			 expenditure of funds by the university of amounts greater than five million
			 dollars shall require prior approval of the board of trustees, and shall be
			 executed by the chairperson, vice chairperson or chairperson of the finance and
			 administration committee as authorized in paragraph (B) of this rule, without
			 further approval, unless execution authority is specifically delegated to the
			 president.
(E) Contracts other than
			 those for the purchase or sale of operating real estate involving sums of five
			 million dollars or less may be executed as follows:
(1) Without board of trustees' approval, the
			 president or his/her delegate appointed pursuant to paragraph (F) of this rule
			 shall have the authority to:
(a) Approve all
			 budget transfers in undesignated general or auxiliary funds, and all additional
			 appropriations of undesignated general, auxiliary or plant funds in amounts of
			 four million five hundred dollars or less. The four million five hundred
			 thousand dollar limit may be increased to five million dollars with the verbal
			 or written consent of the chairperson of the finance and administration
			 committee or in his/her absence the vice chairperson of the finance and
			 administration committee, which consent when given by the vice chairperson of
			 the finance and administration committee shall, when attested, be conclusively
			 presumed to have been given in the absence of the chairperson of the finance
			 and administration committee. Under normal conditions written approval shall be
			 preferred. The president shall report all such approvals to the board for
			 information at its next regular meeting.
(b) Approve and execute
i. Contracts (including term contracts that
			 are the result of ordinary competitive bidding procedure), purchase orders and
			 modifications thereof that require the expenditure of funds by the university
			 of amounts not in excess of four million five hundred thousand dollars;
			 provided that the four million five hundred thousand dollar limit may be
			 increased to five million dollars with the verbal or written consent of the
			 chairperson of the finance and administration committee or in his/her absence
			 the vice chairperson of the finance and administration committee, which consent
			 when given by the vice chairperson of the finance and administration committee
			 and attested as provided in these bylaws shall be conclusively presumed to have
			 been given in the absence of the chairperson of the finance and administration
			 committee. Under normal conditions written approval is preferred.
ii. Grants, sponsored contracts and other
			 contracts that do not require the expenditure of funds by the university (other
			 than as an incident of performance of the contract), and modifications thereof,
			 in any amount.
The president shall report all such approved and executed
				contracts, purchase orders, grants or modifications to the board for
				information at its next regular meeting or at such intervals as the board of
				trustees shall direct. Such report may be in summary form showing aggregated
				information for multiple contracts.