This policy outlines financial powers of the Board with regard to retaining processing charges and the authority to establish fees and charges.
General UO audience.
Technical revisions enacted by the University Secretary on September 2, 2015.
Became a University of Oregon Policy by operation of law on July 1, 2014.
Former Oregon Administrative Rule Chapter 580 Division 40, Sections 0007-0010.
A. Retainage Processing Charges
(1) The contractor for a construction contract may elect to have retainage deposited in an interest-bearing bank account, or to deposit securities in lieu of retainage. Contractors exercising one of these options will be charged for the cost of processing transactions related to that option.
(2) The following charges will be accrued and deducted from the final payment to the contractor:
(a) $50 for setting up initial records;
(b) $15 for each subsequent transaction regarding the retainage funds or securities. These transactions include but are not limited to: depositing and withdrawing funds and reconciling the bank statement each month; receiving securities or safekeeping receipts for securities; preparing letters or statements to the institution, contractor or financial institution; and releasing funds or securities to the contractor.
B. Institutional Authority to Establish Fees and Charges
(1) The Board delegates to the President the authority and responsibility to establish as necessary, but ordinarily not more often than annually, fees for certain services and materials provided or coordinated by the University. The fees are supplemental to required instruction fee, building fee, health service fee, incidental fee and other charges determined and established by the Board. The additional services and materials for which fees and charges may be established include student family, cooperative and miscellaneous housing; instruction-related services; motor vehicle and bicycle parking; hospital, medical, surgical, oral health and clinic services; short courses and workshops; fines for violation of campus regulations; special music, counseling and testing services; and off-campus facilities and services arranged by the institution.
(2) For services and materials other than student family, cooperative and miscellaneous housing, the fees and charges shall be established at levels that assure recovery of the cost of providing the services and materials, including that portion of the operating costs required by legislative action on the Department budget, and in accordance with criteria stated in University policies.
(3) The rates for student family, cooperative and miscellaneous housing shall be the amount necessary to meet, for that type of housing, the operating costs, required assessments, debt service, and the requirements of the Board's building repair reserve and equipment replacement reserve policies. For each type of housing, the rates charged for individual units may reflect differences in the age, quality, location, level of service provided and other factors affecting the relative economic value of the unit.
(4) Residents of each of the three types of housing shall contribute, by means of applicable rental rates, toward the total debt service of that type of housing.
(5) Provision for debt service related to each of the three types of housing is the responsibility of the University.
(6) For housing units scheduled for demolition, the University shall provide a means for timely accumulation of reserves or for the acquisition of other funds sufficient to cover the costs of razing and removal. For this purpose, each of the three types of housing shall be provided for separately.
(7) Fees and charges and amendments thereto that the President has Board-delegated authority to establish shall be adopted only after approval by the President in the manner required by the Oregon Revised Statutes or University Policies.. Copies of all fee schedules, charges, and amendments shall be presented to the Vice President for Finance and Administration for filing in the President’s Office.
For questions about this policy, please contact the Office of the Secretary at 541-346-3166