The following policy is based on Tennessee Board of Regents policy (4:02:02:00) and guidelines (G-030) concerning approval of agreements and/or contracts and is the standard wordings for those agreements/ contracts. The purpose of the policy is to outline requirements and procedures for processing contractual documents other than employment contracts. Services to be performed under any agreement or contract shall not be commenced and payment for such services shall not be made until an agreement/contract is executed in accordance with this policy and all requirements are met.
1.0 General
1.1 Only the President and those individuals who are specifically authorized in writing by the President through published policies/procedures or other authorizing documents have the authority to enter into agreement/contracts as agents of the College.
2.0 Approvals
2.1 All agreements/contracts involving or related to the purchase or lease of real property or data processing, the purchase of insurance or agreements providing insurance or other benefits for employees, the purchase of professional, personal, or consultative services, and purchases related to capital outlay projects, shall be expressly subject to the approval of the Chancellor, President, or Vice President for Business and Finance in accordance with TBR policies and guidelines.
2.2 Agreements/contracts exceeding $249,999.99 require the Chancellor's approval.
3.0 Standard Guidelines
3.1 No agreement/contract of any nature which requires the expenditure of funds by an institution shall extend beyond the end of the fiscal year in which it is entered into unless expressly subject to the condition that the institution shall have the right to terminate the agreement/contract at the end of any fiscal year in the event that sufficient funds are not appropriated by the General Assembly and/or budgeted for continuation of the agreement/contract.
3.2 Only the President can approve applications for all grants from agencies or organizations, acceptance of the award of the grant, and enter into agreements confirming grants, provided that where matching funds or services in lieu of funds are required by the College.
3.3 Any agreement/contract between the College and any other institution, agency, organization, or entity which involves programs relating to matters of system-wide interest, or any agreement/contract which provides for the coordinated and cooperative offering of any credit or non-credit programs or activities or in which certificate or degree requirements are not met or credit is given for coursework or activities offered by another institution or school, shall be expressly subject to the approval of the Chancellor.
3.4 When the President of the College is absent from campus and a situation arises where an agreement or application must be submitted prior to his/her return, the Vice President of Business and Finance is authorized to approve for the President.
TBR Source: 1:03:02:10: TBR. Meetings, March 5. 1976; June 26. 1981; September 30, 1.983; December 1.3, 1985; September 22, 1989; .June 28, 1991.; December 5, 1997; December 2. 2005. G-030: 030: November 12, 1985, Presidents" Meeting; August 15, 1989, Presidents' Meeting; November 8, 1995. Presidents' Meeting: May 14, 1996 Presidents' Meeting; November 12, 1996, Presidents' Meeting; August 5, 1997 Presidents' Meeting, November 5, 1997 Presidents' Meeting; February 17. 1998 Presidents' Meeting & March 27, 1998 Board Meeting; November 4, 1998 Presidents' Meeting, November 7, 2001 Presidents Meeting. August 16. 2005 Presidents' Meeting, August 16, 2006 Presidents Meeting; May 15, 2007 Presidents' Meeting, February 12, 2008 Presidents' Meeting; February 17, 2009 Presidents' Meeting; August 17, 2010 Presidents Meeting; August 16, 2016 Presidents Meeting; February 14, 2025 Ministerial Changes.
VSCC Source: August 1, 1996, President; August 2002, President; May 2008, President; May 18, 2009, President; April 9, 2025. President’s Cabinet
