Management Reporting of Contracts to Board (under review)

Section

Board

Approval Date

18 March 2021

Approved By

OP Board

Next Review

1 March 2023

Responsibility

Chair: OP Board

Baldrige Criteria

Leadership

Purpose

To keep the Otago Polytechnic Board informed of major contracts and to enable the Otago Polytechnic Limited (Ltd) Board to perform its governance and fiduciary roles in governing Otago Polytechnic Lid.

Compliance

Education and Training Act 2020 and all subsequent amendments.

Policy

The Otago Polytechnic Limited Board require management to report to the monthly Board meeting as follows:

a. Routine contract renewals over the value of $50,000 (exclusive of GST)

b. Contracts that are not routine contract renewals over the value of $20,000 (exclusive of GST)

To inform the report to Board, a Contracts Register will be kept by the Contracts Manager using the contracts database (Contract Eagle) and the register shall clearly identify the following:

1. Parties to the contract

2. Expiry or renewal date

3. Value

4. Provide a subject section, i.e. Operating Lease, Partnership Arrangement, Service Provision, etc.

Signature

Approved by:
Adam La Hood
Chair: Otago Polytechnic Limited Board
18/03/2021