|Responsible Executive:||Finance and Administration|
|Approving Official:||Vice President for Finance and Administration|
|Effective Date:||January 1, 2014|
|Last Revision Date:||Unrevised at this time.|
Florida Statutes Section 240.227(12)
To set forth rudimentary procedures for managing contracts and leases that are initiated by employees of the University, its divisions, departments, institutes, or centers.
The development and implementation of such procedures will ensure more uniformity of contract/lease operations and contract/lease records management systems throughout the University.
A. RECORDS MAINTENANCE PROCEDURES
In order to ensure control and accessibility of contracts and leases, individuals responsible for contract and lease management within the University's divisions, departments, institutes or centers shall develop and maintain the following:
Each individual employee responsible for contract or lease management shall develop and maintain an appropriate index and filing system containing the following documents:
1. Appropriate signature page(s) of individual signing on behalf of the University and individual signing on behalf of entity that is the other party to the contract or lease.
2. Signature page(s) of University General Counsel or designee and University Controller or designee in accordance with Policy No. OP-D-3.
3. Actual contract or lease document and specific attachments cited within the document.
4. Monitoring documentation, i.e., evidence showing that all records and reports required for submittal to the University were received, reviewed and analyzed.
5. Performance standards and documentation, i.e., evidence showing that the university evaluated criteria and performance standards provisions within the contract of lease.
6. Problem/deficiency documentation, i.e., evidence showing that any problems or deficiencies pertaining to contract or lease performance have been duly noted and communicated. In addition, documentation shall be maintained concerning follow-up actions.
7. Substantial and final completion documentation, i.e., all forms, correspondence and documents ascertaining to the fact that the contract or lease parties have complied with completion provisions.
8. Payment schedule documentation, i.e., records demonstrating when payments are to be made, to whom/what, dates, delinquencies and voucher/warrant numbers.