416.1 Policy
The purpose of this policy is to establish consistent standards and responsibilities for the creation, execution, and management of all contractual financially binding agreements entered into by the College of Eastern Idaho (“CEI”). This policy ensures compliance with governing board authority, promotes fiscal accountability, and safeguards the College’s legal and operational interests. Only individuals expressly authorized by the College of Eastern Idaho Board of Trustees may enter into financially binding agreements on behalf of the CEI.
This policy applies to all contracts, agreements, memoranda of understanding, leases, licenses, grants, or other legally financial binding commitments between CEI (or any of its departments, divisions, or affiliates) and a third party. It includes both commercial and non-commercial transactions involving goods, services, facilities, intellectual property, or use of CEI resources. Internal agreements between CEI departments or entities are excluded unless otherwise required by law or policy.
416.2 Procedure
Contracting Authority: The CEI Board of Trustees has delegated authority to sign contracts and other legally binding agreements on behalf of the College to the following positions:
- College President
- Chief Financial Officer (CFO)
These individuals may execute contracts that are consistent with Board-approved policies, budgetary authorizations, and applicable laws. No other employee, faculty member, student, or contractor may sign or otherwise commit CEI to any financial agreement, which is defined as a legally binding contract defining financial terms between parties, including “in kind” agreements without express written authorization. Unauthorized commitments may be declared void and may subject the individual to disciplinary action up to termination and personal liability for any resulting obligations.
The Executive Director of the CEI Foundation is authorized to execute contracts, grants, and agreements solely on behalf of the CEI Foundation, subject to Foundation Board approval where required.
Delegation of Contract Signature Authority: The College President and Chief Financial Officer may, in writing, delegate limited contract signature authority to specific CEI employees by position title. Each delegation must specify the scope of authority, including applicable dollar thresholds, contract types, departments, duration, and any required review or approval conditions.
Delegations may be either standing or temporary in nature. Temporary delegations may be issued during periods of absence or operational necessity and must identify the specific timeframe for which the delegation is valid. All delegations of signature authority shall be documented in writing, filed with the Business Office, and maintained in the Centralized Contract Repository. The President and Chief Financial Officer retain ultimate responsibility for all contracts executed under their delegated authority.
Contract Management and Record Keeping: The Business Office shall serve as the central authority for contract management and record retention at CEI. The Business Office will work with the Procurement Department, Director of Grants, Grants Accountant, and the CEI Foundation to maintain a central repository (either in hard copy or electronically) of all contracts executed. All fully executed contracts, agreements, amendments, and related documents must be submitted to the Business Office for inclusion in the Centralized Contract Repository. The Business Office is responsible for ensuring proper cataloging, secure storage, and controlled access for authorized personnel.
Contract Submission and Retention Workflow: All contracts to which the College of Eastern Idaho (“CEI”) is a party shall be processed through the Business Office, which serves as the central authority for contract review, routing, and record retention. No financially binding contract may be executed on behalf of CEI without prior review and approval by the Chief Financial Officer (CFO) or their designee to ensure compliance with CEI policies, budgetary limits, and applicable state and federal laws.
When a need for a contract is identified, the originating department shall prepare or obtain the proposed agreement and submit it to the Business Office. If the contract is vendor-provided or includes complex financial or legal terms, the Business Office will coordinate review with the Procurement Department, Legal Counsel, and/or Risk Management as necessary. The Business Office will also confirm that the contract has received any required approvals from Grants Administration, Information Technology, or the CEI Foundation prior to routing for signature.
After review, the Business Office will route the contract to the appropriate authorized signer, the College President or Chief Financial Officer. Upon signature, the originating department must return a fully executed copy of the contract to the Business Office within five (5) business days. The Business Office will then record the agreement in the Centralized Contract Repository, maintained in either secure electronic or hard-copy form, which constitutes CEI’s official record of all executed contracts.
The Business Office, in coordination with Procurement, Grants Administration, Information Technology, and the CEI Foundation, shall ensure proper cataloging, retention, and controlled access for authorized personnel. Departments may maintain reference copies for internal use; however, the version maintained by the Business Office is the official institutional record.
The Business Office shall periodically audit departmental compliance with this process and may provide training or guidance to ensure that all CEI contracts are properly reviewed, executed, and retained. Unauthorized financial agreements—those entered into without proper review or approval—are strictly prohibited.
Contract Close-Out and Retention Procedure: Upon completion of the contract terms, the originating department shall notify the Business Office and any other applicable offices involved in the contract, including the Procurement Department, Director of Grants, Grant Accountant, Information Technology Department, or the CEI Foundation, to facilitate proper contract close-out and record retention. Notification should include confirmation that all deliverables have been received, final payments processed, and performance obligations satisfied.
The Business Office will then ensure that the contract file is complete, containing all supporting documentation such as the fully executed agreement, amendments or extensions, correspondence related to performance or payment, certificates of insurance, and any compliance or audit reports. Once verified, the Business Office shall mark the contract as “Closed” within the Centralized Contract Repository and record the final completion date.
All financially binding contract files, whether maintained electronically or in hard copy, shall be retained for a minimum of seven (7) years following the date of contract completion or final payment, whichever is later. Contracts involving federal or state grant funding must be retained for the longer of seven (7) years or the retention period required by the applicable funding agency. During this retention period, access to archived contracts shall be limited to authorized personnel as determined by the Business Office.
At the end of the retention period, the Business Office shall coordinate with Procurement, Grants Administration, and the CEI Foundation to review records eligible for destruction. Destruction of any contract record must comply with the College’s Records Retention Schedule and applicable state and federal law, ensuring that confidential or sensitive information is disposed of securely. A destruction log shall be maintained by the Business Office documenting the date, description, and method of disposal for each record destroyed.
The Business Office may periodically audit departmental compliance with these procedures to verify that contracts are properly closed, retained, and disposed of in accordance with institutional and legal requirements.