CONTRACTS WITH THE BOARD Policy Code: 6420R
The following procedures and standards will be used in making decisions to enter continuing contracts:
- In addition to cash price bids, school staff may solicit financing proposals from the equipment vendors or inform equipment vendors that the purchase of the equipment is contingent on obtaining satisfactory financing.
- The finance officer or other designee of the superintendent shall analyze the fiscal impact of any continuing contracts, including the amount of interest to be paid and the useful life of the equipment or goods before entering into such a contract.
- Straight leases and financing services are not subject to competitive bidding; however, a reasonable effort will be made to obtain a competitive price and good value.
- Guaranteed energy savings contracts must be entered into following the procedures established in G.S. 143-64.17A to -64.17E, -128.2 and -135.3. Guaranteed energy savings contracts are exempt from otherwise applicable bidding requirements.
- Installment financing agreements with terms of more than one year shall be reviewed by the board attorney.
- Contracting Authority. Contracts involving amounts up to one hundred twenty-five thousand dollars ($125,000) shall be executed in accordance with the following:
- A. Contracts involving amounts up to one hundred twenty-five thousand dollars ($125,000) may be approved and executed by the Superintendent. The Superintendent may directly authorize an Assistant Superintendent or the Chief Operations Officer as the Superintendent’s designee for the purpose of executing a specific purchase or service contract.
- B. Contracts involving amounts up to twenty-five thousand dollars ($25,000) may be approved and executed by an Assistant Superintendent or the Chief Operations Officer without further authorization when the contract amount is within the remaining funds in the allocated budget for the fiscal year.
- C. Departmental contracts involving amounts up to ten thousand dollars ($10,000) may be executed by the department’s Director without further authorization when the contract amount is within the remaining funds in the allocated budget for the fiscal year.
- D. Assistant Superintendents, the Chief Operations Officer and Directors, shall submit quarterly reports to the Superintendent and the Chief Finance Officer of all contracts executed pursuant to this Regulation.
- E. School principals may enter into the following contracts involving amounts up to five thousand dollars ($5,000) without further authorization, provided there are sufficient funds in the local school account to cover the contract: (a) school pictures; (b) yearbooks and school newspapers (all other contracts for printing of reports, forms, etc., should be handled through the finance officer); (c) fund-raising activities undertaken in compliance with Board policies; (d) disc jockeys/bands, facilities and other equipment, supplies and services for dances to be paid for with school funds; (e) athletic officials and other persons working at athletic events to be paid from athletic funds derived from gate receipts; (f) class rings; (g) caps and gowns; and (h) senior supplies (i.e., invitations, note cards, class keys, etc.); or any other expenditure specifically approved by the Superintendent. School principals may enter into other contracts for goods and services in amounts up to one thousand dollars ($1,000) without further authorization, provided there are sufficient funds in the local school account to cover the contract. Principals shall submit quarterly reports to the Chief Finance Officer of all school contracts executed pursuant to this Regulation.
Legal References: G.S. 115C-36, -47, -440, -441, -522, -528 G.S. 143-64.17A-E; 115C-47(28), -128.2, -129.4, -135.3, -441(c), -441(c1), -432(b)(4), -528, -530; 158, art. 8; 160A-19, -20
Contracts with the Board (policy 6420), Planning to Address Facility Needs (policy 9000)
Adopted: September 14, 2009 Revised: September 8, 2014