Contract Administration: Revenue Generating Contracts Procedures

General:

1. These Procedures apply to revenue-generating contracts entered into by the College. These include, but are not limited to; Education Service Contracts, Licensing Agreements, and some Partnership Agreements, but excludes:
   
   
   
   1. Grant and Gift agreements managed by the VCC Foundation.
   
   
   2. External room booking, filming, and lease and rental agreements managed by the Facilities Management Department.
   
   
   3. Procurement-related contracts which include terms that generate revenue for VCC.
   
   
   
   


2. The financial terms of revenue-generating contracts must be clear, transparent, and beneficial to the College. Contracts should include provisions for timely payments, cost recovery, and revenue-sharing where applicable. Financial arrangements must be reported to the College's Financial Services Department and documented in accordance with financial reporting standards.


3. All revenue-generating contracts must use a College-approved template, where available.


4. All revenue-generating contracts that fall under these procedures must be reviewed by Financial Services and Safety, Security, Risk and Privacy (SSRP) to identify and mitigate potential financial, legal, operational, and reputational risks.


5. Contracts should include appropriate insurance, indemnification, and liability clauses to protect the College's interests.

Education Service Contracts

General:

6. Education Service Contracts cannot cause any reduction to existing programming and must comply with all governance and curriculum approval processes.


7. The Vice President, Academic & Research, or delegate, is required by the College and Institute Act to report to the Education Council on Education Service Contracts upon their implementation.


8. Copies of executed Education Service Contracts will be stored by the Partnership Development Office in accordance with the College's Records Retention Policy.


9. The Partnership Development Office will provide resources for employees to assist with developing Education Service Contracts.

Contract Development:

10. When an Education Service Contract opportunity arises, the potential Contract Manager will undertake exploratory discussions to assess feasibility with the Dean or Director and the Partnership Development Office (PDO), as well as with service areas that may be directly impacted by the Education Service Contract (such as Disability Services, Roombooking, or Facilities Management).


11. Through the contract development phase PDO may:
    
    
    
    1. Assist and advise on any exploratory discussions and contract assessment, costing and pricing
    
    
    2. Provide input on programming and delivery logistics
    
    
    3. Support project development and proposal writing process
    
    
    4. Review proposals prior to submission
    
    
    5. Provide input on contract and project closure.
    
    
    
    


12. The Contract Manager must consult with Financial Services to determine preliminary costing. Contract Managers must complete the Contract Information and Costing Form to obtain final approval from Finance.


13. If a VCC-approved template is not used, the potential Contract Manager must consult with SSRP to conduct a risk assessment.

Approval of Education Service Contracts:

14. Education Service Contracts require the approval of both the relevant Dean/Director and Financial Services before the contract can be executed. The relevant Dean/Director is the Contract Authority for the Contract.


15. Upon contract execution, Financial Services will:
    
    
    
    1. Assign each Education Service Contract a separate organisation code
    
    
    2. Provide oversight of contract revenue and expenditures
    
    
    3. Support financial reporting for internal and external parties
    
    
    4. Support Departments to fulfill auditing requirements.
    
    
    
    


16. The Contract Manager is responsible for following internal policies and procedures, delivering any required internal or external reports, and conducting ongoing risk monitoring throughout the duration of the contract.


17. Before the termination of the contract and the closure of the organisation code, the Contract Manager must confirm with Financial Services that all contract revenues and expenses are accounted for, and that the contract no longer has any activities within the appropriate fiscal year.

Licensing Agreements:

General:

18. Licensing Agreements which relate to the licensing of VCC's real property, intellectual property, and technology are considered Significant Contracts and must follow those procedures.


19. Departments may negotiate agreements that license the College's curriculum, courses, programs, and other copyrighted materials or intellectual property.


20. The Contract Manager must ensure that the College is licensing material that is the property of the College, and is not the agreed upon intellectual property of an employee.


21. Licensing agreements must not assign ownership or retention of VCC's property beyond the termination date of the agreement.

Contract Development:

22. Employees interested in developing a Licensing Agreement with an external partner must conduct a feasibility analysis including an assessment of financial and operational impacts, a risk assessment, and a summary of strategic benefits to the College.


23. The proposer must receive approval from Financial Services before executing the Licensing Agreement, regardless of the value of the agreement.


24. If the licensing involves technology owned or utilized by VCC, the Contract Manager must also consult with the VCC IT Department.


25. If a VCC-approved template is not used, the potential Contract Manager must consult with the Department of Safety, Security, Risk and Privacy to conduct a risk assessment.

Approval of Licensing Agreements:

26. Contract Authorities for Licensing Agreements are dependent on the contract value. Contract Managers must ensure the review and approval follows the Contract Signing Authority Matrix.


27. The responsible Dean/Director will review the feasibility assessment and any documentation from the Mandatory Reviewers before presenting the Licensing Agreement to the appropriate Contract Authorities.


28. Following approval from the Contract Authorities, the Contract Manager will consult with Financial Services to process payment for the licensed materials.


29. Signed agreements will be stored by the responsible Dean/Director and on the College's online contract repository.

Partnership Agreements:

30. Partnership Agreements which generate revenue for the College (but which are not Education Service Contracts or Licensing Agreements), may not have pre-approved templates due to the diverse nature of these agreements.


31. Proposers should conduct a feasibility assessment and risk assessment and ensure the partnership organization aligns with VCC's values, mission, mandate, and strategic direction.


32. Proposers should consult with their Dean or Director to identify potentially impacted departments or service areas to review the contract.


33. The Contract Manager must consult with Financial Services to determine preliminary costing. Contract Managers must complete the Contract Information and Costing Form to obtain final approval from Finance.


34. Revenue-generating Partnership Agreements are subject to the Contract Authorities outlined in the Contract Signing Authority Matrix based on the dollar value of the agreement.


35. Partnership Agreements will be stored by the responsible Dean/Director and the College's online contract repository.