The purpose of this policy is to set the authority limits to execute contracts for expenses by APTA staff.
2.SCOPE
a.This policy applies to all APTA staff, APTA President/CEO and the APTA Finance Committee.
b.This policy applies to all approved budget expenses.
c.This policy does NOT apply to unbudgeted expenses. For those expenses, the Out-of-Budget Policy must be followed.
3.REFERENCES
a.APTA Bylaws Article VII, Section A (“Organization”).
b.APTA Bylaws Article XI (“Appointed Officers”).
4.DEFINITIONS
Term: APTA Staff
Definition: Includes APTA Program Managers, Senior Program Managers, Directors, Senior Directors, Vice Presidents and equivalent positions.
Term: APTA President/CEO
Definition: This is the President and Chief Executive Officer of APTA and serves at the discretion of the Board of Directors.
Term: Finance Committee
Definition: A committee created by the Board of Directors to manage the fiscal responsibilities of APTA.
5. RESPONSIBILITIES
a.APTA Staff
- Responsible for following the contract signature authority limits contained in this policy.
b.APTA President/CEO
- Exercises authority to execute contracts up to $100,000 consistent with this policy.
c.Finance Committee
- Reviews and makes budget recommendations;
- Receives notice from APTA President/CEO for contracts $100,000 and above; and
- Reviews and approves non-budgeted item requests from APTA staff for approval by the Board of Directors.
6.PROCEDURES
APTA staff has authority to execute contracts for expenses within the limits specified in this policy. The contract approval limits will be reviewed by the Finance Committee on a regular basis and may be modified if necessary. The President/CEO has authority to execute all revenue contracts regardless of dollar limit such as grant awards unless the services covered in the award contract are for a new program that was not included in the approved budget. In such cases, the President/CEO must provide notice of such action to the Finance Committee.
Contract signature authority limits are as follows:
- President/CEO – May execute up to $100,000 and at his/her discretion may delegate authority as follows:
- Program Managers – up to $2,500.
- Sr. Program Managers – up to $5,000
- Sr. Directors/Directors – up to $10,000
- Vice Presidents and equivalent positions – up to $50,000
Contracts in excess of $100,000 within the approved budget will be signed by the President/CEO with notice to the Finance Committee.
The limits above may be modified by a change order allowance of 10 percent. For example, if an expense was approved in the budget for $75,000, but a change was necessary costing 10 percent or less of the approved amount, staff may accept the change without receiving further approval. The President/CEO may execute expense contracts above $100,000 when such contracts are revenue neutral and with no impact to the approved budget so long as he or she provides notice to the Finance Committee.
Certification of Secretary/Treasurer
I hereby certify that the above “Board of Directors’ Attendance Policy” was adopted by the Board of Directors of APTA at a properly called meeting with an appropriate quorum present.
This 10 day of June, 2017
Printed name: Kim Green
Signature: ______Signature on file______________
Secretary/Treasurer
Acknowledgment of APTA Chair
This 10 day of June,2017
Printed Name: Doran J. Barnes
Signature: _______Signature on file_____________
APTA Chair
