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I. Title of Policy
4.5000 Construction Contracts
II. Objective of Policy
To fulfill New Jersey statutory requirements.
Board of Trustees Policy No. 4.8000; New Jersey Statutes 18A:64A-25.1 et seq.
IV. Policy Statement
Where a project has been either specifically approved by the Board or budgeted, the President is authorized to solicit quotations and/or bids in accordance with the requirements of N.J.S.A. 18A:64A-25 et seq. and Board of Trustees Policy No. 4.8000, Contracts.
In the exercise of this authority the President shall observe the following:
A. If the estimated cost of the entire project is more than $100,000, specific plans and specifications shall be approved in advance by the Board of Trustees.
B. Change orders to capital improvement contracts may be approved upon the following basis:
1. A change order costing less than the specified bidding limits as set forth in N.J.S.A. 18:64A-25.1 et seq. may be approved by the President provided the total contingency for the project is not exceeded. Any action taken under this section shall be reported to the Finance and Facilities Committee of the Board of Trustees.
2. A change order which exceeds the cost as set forth in N.J.S.A. 18A:64A-25.1 et seq. may be authorized by the President if approved by the Executive Committee of the Board of Trustees, provided the total contingency for the project is not exceeded. Any action taken under this section shall be reported to the Board of Trustees at the next Regular Board Meeting.
3. When the total contingency fund for a project is exceeded, the Board of Trustees may revise the contingency fund or may require their approval of any additional change orders.
V. Responsibility for Implementation
Approved: Board of Trustees, 12/18/2018