Conflict Of Interest Waiver Approval Template
"Effective July 1, 2006, the
Virginia General Assembly passed legislation that amended the
State and Local Government Conflict of Interests Act. The
amendment grants higher education institutions the authority to
enter into contracts with firms in which an employee of the
University or a member of his/her immediate family owns in
excess of three percent of the contracting firm's equity.
While the legislation grants additional authority to institutions
of higher education, it does so only under certain conditions
designed to maintain and promote confidence in public contracting.
Generally, an officer or employee with a financial interest in a
firm involved in contract negotiations with the University must
disclose in writing that s/he has an interest in the firm and
that s/he will not participate on behalf of the University or
the firm in negotiating or approving the contract. The President
of the University must also certify that the contract in which
the University and the firm is entering is in the best interest
of the University. For the specific statutory requirements,
please refer to the amendment to Virginia Code section 2.2-3110(A)
(5), which may be accessed online through the Commonwealth's web
site at
http://www.virginia.gov/cmsportal3/government_4096/codes_and_laws.html
These stipulations will ensure that there is no appearance of
impropriety in University contracting practices. Please note
that this new provision is in addition to the existing exception
allowing waiver of conflicts for contracts involving research
and development or commercialization of intellectual property.
If you currently have such a conflict or anticipate a conflict
in the future, a disclosure notice must be completed to document
the conflict. This applies to contracts with the University to
which your company would be entering as either the prime vendor
or as a subcontractor. A disclosure template letter is available
on-line in section 2.5 of the University's Conflict of Interests
policy,
http://www.virginia.edu/finance/polproc/pol/xva1.html
or you may directly access the letter template at
http://www.virginia.edu/finance/polproc/pol/COIADisclosureLtr062806Dr1.doc
If you have further questions regarding the State and Local
Government Conflict of Interests Act, please contact Eric Denby,
Director of Procurement Services, at 924-4019.
Vice President for Management and Budget Sheehy approved distribution of this message.”
