Policy and procedure updates as of December 9, 2020

The following policy documents are now published and effective.  Please discuss the documents with the appropriate people in your department and send any questions to controllers.office@yale.edu.

Related Documents:

• Policy 1101 Guiding Principles for University Operations – Revised
• Procedure 1101 PR.06 Approval Authority – New

Policy 1101 establishes the fundamental principles for University Operations at Yale, creating the framework for a sound and ethical business and Internal Control environment.  It is the authoritative document for key concepts pervasive in other policies and processes and the foundation upon which to enhance and expand responsibility, accountability, training and education, and compliance.

The substance has largely not changed from the previously published version.  Rather, the language has been enhanced and clarified and the general theme has been re-oriented around individual responsibility and accountability.  The updates are intended to reinforce the importance of our operational structure, internal control framework, and the roles and responsibilities supporting them.

The anticipated direct community impact from the policy revisions is somewhat minimal.  The impact will be more evident, however, with increased focus on roles and accountability, evolved expectations with training and the use of new tools, and new and updated procedures in support of these concepts.

Earlier this year, we introduced the revised Financial Review Checklist and its associated procedure.  The next procedure in line is the new Procedure 1101 PR.06 Approval Authority.  This procedure takes a pivotal role within our operational structure and describes it in great detail, including the associated accountabilities and the concept of delegation.  This procedure will support upcoming financial training on the critical importance of Requestors/Initiators, Preparers, and Approvers of operational transactions.  Overall, the content of the procedure does not represent new information.  Rather, it documents, formalizes, and streamlines concepts already in place but in a manner that makes it easily accessible.  It supersedes and replaces the relevant pieces of former Procedure 1104 PR.01 Signature Authority, Delegation of Approval Authority and Access for Financial Transactions.

Related Documents:

• Policy 1104 University Signature Authority – Revised
• Procedure 1104 PR.01 Electronic Signatures – Revised

The policy update is intended to streamline and simplify the policy content.  The scope now covers only Signature Authority for agreements and contracts binding the University.  This will serve to amplify the unique nature of Signature Authority and better differentiate and emphasize the key aspects of business administration.

The policy was restructured slightly and edited to enhance precision and clarity.  The overall concepts, however, remain the same.  In particular, the primary policy statement is substantively unchanged: “Only Yale officers or employees who have been given signature authority by the Yale Corporation By-Laws or a resolution of the Yale Corporation, or who have been delegated signature authority as prescribed in such By-Laws or resolutions, may execute and deliver agreements, contracts, and other legally binding documents on behalf of Yale.”

The policy does incorporate a new subject: electronic signatures.  Rather than having a standalone policy on electronic signatures, the revised policy now incorporates the substantive components of that policy (formerly Policy 1613), which is now retired.

The procedure (formerly 1613 PR.01) renamed, renumbered, and has been updated to reflect current practice related to the creation and use of electronic signatures by individuals with signature authority.  It also specifically addresses the use of electronic signatures for instances other than signing formal agreements on behalf of the University, directing readers to the instructions contained in Procedure 1101 PR.06 Approval Authority (discussed above).  The substance has not shifted in any major way, but it has been brought up-to-date and in line with the revised structure of this related set of policy documents.

Always check the Policies and Procedures website for the latest revisions of all documents.  This will ensure you that are utilizing the most up-to-date version.

If you have any questions, please contact Policy & Compliance Services at controllers.office@yale.edu.