System Business Officers

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  • 1.  Board Approval Thresholds - Capital Projects/Contracts

    Posted 30 days ago
    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 27 days ago
    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