Policy 2.G. Direct Expenditure Authorization via Board Resolution
POLICY 2.G. Direct Expenditure Authorization via Board Resolution
A notice of motion and fiscal note shall be required prior to approval of a resolution requiring direct expenditure of university funds. This policy applies to the following:
(1) A resolution has been proposed by a regent or the Board of Regents that directs the Secretary of the Board of Regents, university counsel, or any member of the university administration to enter into an engagement for goods or services.
(2) The proposed expenditure is expected to exceed $25,000.
(3) The source of the funds is either the Board of Regents budget or any other University of Colorado speed type.
The notice of motion regarding a proposed direct expenditure resolution shall be given at a previous regular or special meeting of the Board of Regents.
The fiscal note will include an estimate of the proposed cost prepared by the Office of the Vice-President and Chief Financial Officer of the University of Colorado.
The Board of Regents may waive these requirements upon an affirmative vote of two-thirds of the regents.
History: Approved 12/04/2013. Former Regent Policy G (1994-95 Regent Priorities) was rescinded.