System Business Officers

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  • 1.  Board Approval Thresholds - Capital Projects/Contracts

    Posted 12-17-2021 12:10 PM
    Baylor is currently reviewing the criteria/thresholds for when Board approval is required for the following areas and would appreciate information regarding when your institution requires the following activities be approved by your Board:
    • Capital Projects - New Construction and Renovations
    • Real Estate Purchases
    • Contracts
    Do you have ongoing reporting on these activities?  If so, what is the frequency and how much detail do you provide?

    Baylor's current thresholds/terms:
    • Capital Projects - New Construction and Renovations - $1M or greater
    • Real Estate Purchases - $1M or greater
    • Contracts - $1M or greater or length of term of 10 years or greater
    • Reporting -
      • Construction status/financial updates - capital projects totaling $1M or greater provided at each Board meeting as a supplemental report
      • New/renewal contracts - $500k or greater summary provided annually as a supplemental report


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    Susan Anz
    Vice President of Finance
    Baylor University
    susan_anz@baylor.edu
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  • 2.  RE: Board Approval Thresholds - Capital Projects/Contracts

    Posted 12-20-2021 08:59 AM
    Thank you Ms. Anz, for sharing this information. This is helpful. 

    Ron Somervell, MS, MBA
    Controller 
    Financial Administration
    Washington Adventist University
    7600 Flower Avenue, 
    Takoma Park, MD 20912
    Phone: 301-891-4077