Draft FN05: Procurement will replace 42.31 Purchasing and its associated procedure.
This policy establishes the standards and principles governing all procurement activities conducted on behalf of VIU to ensure expenditures are managed and accounted for properly. It will guide all procurement activities in compliance with relevant laws and regulations, promote ethical practices, and mitigate associated risks, while supporting VIU's strategic objectives and operational needs.
Consultation on the draft policy is now closed. The consultation took place from October 15 until 4 pm on November 4. The consultation on the policy is complete. The policy may be updated based on the feedback received. The Policy Office may also make minor changes to formatting/wording for consistency. Consultation feedback and policy changes will be outlined in the consultation report. The consultation report will be provided to the Board of Governors and posted on this policy page.
The updated draft policy has been submitted to the Board for approval at the November 20, 2025 meeting. Review the updated policy and consultation report in the Board agenda package. Check back on the FN05: Procurement policy page for updates as this policy moves through the policy approval process.
Thank you to everyone who provided feedback.
Policy information
A board level policy meets the fiduciary responsibility of the board to ensure proper oversight and management of university expenditures.
The policy was developed in collaboration with BCNET to align with best practices for procurement and financial controls. The 42.31.001 Purchasing (existing procedure) is being replaced by a number of more comprehensive departmental standards and procedures, including Procurement Operational Procedure, Contract Signing Authority Standard, and Spending Authority Standard.