CAMPION COLLEGE BOARD OF REGENTS
POLICY: SIGNING AUTHORITY
CODE: 6.1.3
Date Initially Approved: May 22, 1986
Date Revised: May 13, 2009; December 14, 2011; February 8, 2012
Signing Authority Policy
1. Purpose
The primary purpose of this policy is to outline the Board of Regent’s approach to the delegation of signing authority with respect to the business operations of Campion College.
2. Background
Campion College was established by an Act of the Legislature of the Province of Saskatchewan effective December 15, 1917. In conjunction with the Act, Campion College has powers as conferred upon corporations by the laws of Saskatchewan as well as certain other powers (i.e., acquire and dispose of land, invest money, build buildings and borrow money).
To facilitate efficient and effective operations, the Board of Regents delegates certain of its authorities to the management of Campion College, in particular, its approach to signing authorities within the College.
The delegation of authorities is an internal control tool based on appropriate segregation of duties or division of responsibilities. This internal control comprises policies, standards, procedures, and related activities planned, organized, directed, and monitored by management to ensure that public monies are appropriately disbursed and accounted for. Controls are adequate if management has planned and organized in a manner that provides reasonable assurance that related risks will be managed effectively.
3. Board of Regent’s Approach to the Delegation of Signing Authority
The Board of Regent’s recognizes the importance of having a well-documented delegation of signing authorities for the College. Furthermore, it is the Board’s expectation that the President of Campion College has a formally documented delegation of signing authorities in place and is formally communicated to the Board of Regents, through an annual declaration to the Board of Regents, along with the current signing authority document.
The Board of Regents retains authority for governing policies and related deliverables such as the strategic plan, annual budget, and appointment of bankers, lines of credit, investment policies, appointment of auditors, annual financial statements and insurance strategy.
The Board of Regents delegates authority to the management of Campion College for day to day business operations such as contracts within budget, cheques, expense claims, and job offers.
4. Delegation of Authority by Authorized Signatories
Authorized signatories for operational and academic affairs follow:
Operational Affairs
• Executive Director Administration & FinanceAcademic Affairs
• President
• President
• Dean
• Assistant Dean
Contracts can be approved and signed by individuals who are not designated as “Authorized Signatories” only if, and to the extent, they have been given written authority to do so by an authorized signatory.
A person who is not an authorized signatory may only enter into binding contract negotiations, or approve or execute a contract on behalf of the College, with explicit written permission from an authorized signatory who is her or his department head or supervisor. Those signing without such authority may incur personal liability, and/or may be subject to discipline by the College, including termination.