Chancellor's Office Business Policies and Procedures
15.15 Contract Monitoring
Purpose:
To establish policies and procedures associated with contract monitoring.
Policy:
Department Heads will review the status of their departmental contracts at least quarterly in accordance with the following procedures.
Procedures:
- The Office of General Counsel reviews and approves all contracts, amendments, and modifications, including Personal Services Contracts (PSCs).
- The Office of General Counsel provides a copy of all approved contracts to Business Processing Staff.
- After being notified of a new contract, Business Processing Staff updates a "master list" of active contracts and encumbers the funds in FIS (if applicable).
- Periodically (at a minimum of quarterly), Business Processing Staff provides to Department Heads a summary of contract status, including contract period, payments to date, and total contract
amount. See the Contract Status Report for an example of the report. See the E-Mail Transmittal for Contract Status Report for an
example of the e-mail.
- To ensure completion and routing of this report Business Processing Staff may want to use a document similar to the sample Tracking Summary for Budget, Accounts
Receivable, and Contract Status Reports.
- Department Head or Department Approver notifies Business Processing Staff and the Office of General Counsel when changes are to be made to existing contracts.
Examples:
Last Updated: 04/14/03
