Two current policies entitled, Contract and Legal Service Authority and Executive Purchasing are under review to be revised and combined. A new draft policy, Approval Authority Policy, is posted on the University Policy Library website for review and comment. The revised policy includes both contracts and transactions. Budget managers are now included and will be able to sign contracts and transactions under a certain threshold. Many of the other revisions expound on current practices. This policy is subject to approval by the Drake University Board of Trustees and will be presented at their April meeting.

In compliance with Drake’s Policy Development, Approval and Communication policy, the two-week review period will be through April 17. Please take a moment to review the revised Approval Authority policy. Any comments or concerns regarding the policy may be forwarded to dupolicies@drake.edu for consideration.

— Teresa Krejci, Finance and Administration