UPPM Revision #650

January 27, 2026

This UPPM revision includes the following changes:

30.77 University Investment Policy

This new policy:

  • Establishes authorized fixed income investments as permitted under state law;
  • Sets an effective duration limit reflective of the liquidity requirements of the operating portfolio and to limit interest rate risk;
  • Requires quarterly meetings of designated University finance staff to review performance and compliance with the policy;
  • Defines performance standards to benchmark market rate of investment income through economic and budgetary cycles that are reflective of the primary objectives of the investment program and the characteristics of the portfolio;
  • Requires the preparation of regular reporting on portfolio holdings, performance, and policy compliance; and
  • Requires annual review of the policy for revisions consistent with the University’s investment objectives and compliance with laws, regulations, and best practices.

Note: The Board of Regents approved this policy and delegated authority so that any future revisions may be approved by the President, with some exceptions.

65.01 General University Contract Policy

This new policy:

  • Replaces UPPM 10.11;
  • Defines “contract” for purposes of the new UPPM Chapter 65 Contracts;
  • Sets forth the standard contract types and definitions, which are used in the delegation matrix to specifically identify the type(s) of contracts each delegate has authority to sign; and
  • Provides general information regarding Purchasing and Contract Services and other central WSU offices that process contracts.

65.02 Development and Administration of University Contracts

This new policy sets forth and explains the necessary steps in the development and lifecycle of WSU contracts, including the roles and responsibilities of the department initiating the contract, Procurement and Contract Services, and other WSU offices.

65.03 Authority to Execute University Contracts

This new policy:

  • Replaces UPPM 10.10;
  • Explains contract signature authority at WSU;
  • Creates a new Request for Delegation form and approval process;
  • Sets forth the responsibilities of delegates;
  • Establishes categories of contracts for which specific contract signature authority delegation is not required (“policy-based authority”);
  • Sets forth the consequences of signing contracts without appropriate authority; and
  • Publishes the University’s current official list of delegates in the delegation matrix (Appendix A)

65.05 International MOUs and Agreements

This proposed revision includes minor language and process updates and moves the policy from UPPM 10.42 (currently in Chapter 10: Governance and Legal.) to UPPM 65.05 (in the proposed new Chapter 65: Contracts).