Revised August 4, 2008 Contracts. What is a Contract? A contract is…… --An enforceable agreement...
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Transcript of Revised August 4, 2008 Contracts. What is a Contract? A contract is…… --An enforceable agreement...
Revised August 4, 2008
Contracts
What is a Contract?
A contract is……--An enforceable agreement
between two parties--An agreement in which each party
agrees to give up something in exchange for something else
--Legally binding and can be settled in a court of law
Typical Contract Provisions Duties and obligations of the parties Representations and warranties Termination Clauses Assignment Clauses Acts of God Indemnity and Damages Insurance Choice of Law Venue
SAMPLE WFISD CONTRACTS
Software licensing agreements Professional engineering agreements Rental agreements Consultant agreements Maintenance agreements
CONTRACT ACTION FORM
(CAF)
SIGNATURE AUTHORITY
Level of ApprovalActivity
Funds
District
Funds
Has it met
purchasing
requireme
nts?
Principal or Director Approval
Required
Under
$10,000
Under
$10,000Yes
Assistant Superintendent or
CFOO
Approval Required
Over
$10,000
Over
$10,000Yes
Superintendent Approval
Required
Over
$50,000
Over
$50,000Yes
Board of Trustee Approval
Required
Over
$100,000
Over
$100,000Yes
After CAF is completed and two copies of
contracts are executed by appropriate WFISD employee, originator is
responsible for obtaining signatures from vendor.
Vendor Signatures
Contract Routing
One original fully executed contract should be kept by vendor, one original fully executed contract should
be forwarded to Legal Services.
Additional Contract Routing
Copies of contracts should be retained by originator and provided to other employees “deemed necessary”.
Purchase Orders with Vendor Contracts
Purchase Orders should be issued at the time the contracts are executed
Services – including services purchased through Student Activity Funds• Band consultants• Color Guard trainers• Athletic trainers
Reason:• Gives better control over your budget• 1099s should be issued for many services
• This shifts the burden of the 1099 to the Finance department and away from your campus
New TEA Account Codes and definitions for Services
6219 – Professional Services • New definition
• required to be licensed/registered with the state
• Fee basis for specialized services
• Normally in areas that supplement the expertise of the school district
• Examples:• Architecture Optometry
• Professional Engineering Medicine
• Accounting Professional Nursing
New TEA Account Codes and definitions for Services (cont’d)
6291 – Consulting Services• Definition
• Practice of improving performance through analysis of existing problems and development of future plans
• May involve:• identification of best practices• analytical techniques• change management and coaching skills• technology implementations• strategy development• operational improvement
• Consultants rely on their “outsider’s” perspective to provide unbiased recommendations• They bring formal frameworks or methodologies to identify problems or suggest more
effective/efficient ways of performing tasks• Cover all functional areas:
• Instruction – • Curriculum• Administration
New TEA Account Codes and definitions for Services (cont’d)
6299 – Miscellaneous contracted services not specified elsewhere• Outside presenters for staff development
trainings