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Signature Authority Policy

Objective and Scope

This Policy outlines the appropriate delegation of Approval and Signature Authority for transactions in the name of Wabash College ("Signature Authority"), including all commitments by the College to act or draw upon College resources. Proper Signature Authority is required to minimize financial, legal, operational, and compliance-related risks of the College and to provide an internal control framework to support business practices.

This Policy applies to all Wabash College employees (e.g., staff, faculty, administrative officers, and student employees) and to students overseeing a budget or College account. Independent contractors, vendors, and consultants do not have the authority to bind the institution.

Employees who sign a contract or make a binding, verbal commitment for which they are not authorized can be held personally liable for the commitment and may also be subject to disciplinary action, up to and including suspension of students and termination of employees. Detailed information about the different types of contracts may be found on the Purchasing Guidelines webpage.

Delegation of Authority

In accordance with the Bylaws of the College and approved by the Board of Trustees (the “Board”), the President, Chief Financial Officer and Treasurer ("CFO"), and Director of Auxiliary and Insurance Services are authorized to approve and execute contracts, written agreements, and other forms of procurement or acquisitions in the name of Wabash College. The President and CFO are authorized to delegate their authority to others (in writing) to approve and execute contracts in the name of the College.

Two persons with Signature Authority must authorize and sign any commitment having a value greater than $25,000. The College’s CFO will be responsible for ensuring that all such transactions are identified and that the College complies with the dual approval requirement. Except as provided in this Policy, no member of the College faculty, staff, or student body has Signature Authority.

Nothing in this Policy overrides other authorities granted in the College’s Bylaws or in other policies or resolutions of the Board.

Approval and Signing Process

All individuals with Signature Authority must complete an adequate review of proposed transactions before committing the College, including determining that:

  • The transaction complies with all applicable laws and College policies and procedures, as well as sponsor, donor, grantor, or any other restrictions.
  • The resources required to fulfill the commitment, e.g., that the funding, personnel, facilities, and space have been budgeted and are available, or will be made available.
  • An assessment has been made of the likely impact of the transaction on other offices or individuals at the College, and appropriate consultation has taken place with those who might be involved in the transaction or contract.
  • There is no real or perceived conflict of interest on the part of any individual or organization involved in a transaction or, where such a real or perceived conflict does exist, the issue has been dissolved and resolved by the CFO or their designee before entering into the transaction or contract.

Purchasing Card Transactions

In addition to the Signature Authority set forth above, the College President or CFO may authorize employees to make certain types of purchases of $2,500 or less with a college purchasing card. Requirements for obtaining and continued use of a Wabash Purchasing Card is provided in the Purchasing Card Program Procedures Guide.

Direct Payment Requests / Check Requests

Direct payment or check requests can be initiated by individuals with delegated authority to process vendor contracts or payments for participants, speakers, or invoices for goods or services up to $2,500. Payments to individuals are complex with many tax reporting or withholding obligations and requirements. All payments must route through the Business Office for final audit review and processing. Payments outside of these guidelines are unauthorized.

Resources

Signature Authority should be directed to the CFO or the Business Office.

Effective January 1, 2026

Treasurer's Office

Treasurer’s Office Business Processes at Wabash Procedures and Guidelines Purchasing SOPs and Guidelines Signature Authority Policy Whom to Contact Directory Information
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