2.407 Vendor Relationships
Policy Statement
Lakeway Christian Schools (LCS) values its relationships with vendors and suppliers as crucial partners in achieving our mission. This policy outlines the principles and procedures for managing vendor relationships and interactions to ensure transparency, fairness, and adherence to ethical standards.
Vendor Selection and Evaluation
Criteria for Selection: LCS selects vendors based on a combination of factors, including quality, price, delivery, and past performance. All purchase decisions are made with the primary objective of obtaining the best value for the school.
Vendor Contracts
Vendors seeking organization-wide contracts must obtain prior approval from the LCS Business Office and be reviewed on an annual basis to ensure the return on investment remains in LCS best interest. Such contracts may include insurance providers, retirement planning vendors, and similar service providers.
Contact with School Staff
Vendors requesting contact with specific school staff members, such as athletic coaches or club sponsors, must secure permission from the respective school principal.
Conflict of Interest
Vendor Compensation: No individual officially connected with or employed by LCS shall act as an agent for or receive any financial compensation or reward of any kind from any vendor for the sale of supplies, materials, equipment, or services to the school.
Fundraising Agreements
Written Agreements: LCS shall execute written agreements with vendors for all fundraising activities. These agreements will specify:
LCS is committed to upholding the principles of fair and ethical vendor relationships. The Executive Director and CFO, along with the Business Office, are responsible for overseeing compliance with this policy. Any violations or concerns regarding vendor relationships should be reported to the Business Office for investigation and resolution.
Review and Amendment
This policy shall be reviewed periodically by the Board of Directors to ensure its effectiveness and relevance. Amendments or updates may be made as necessary to align with the school's evolving needs and objectives.
Lakeway Christian Schools (LCS) values its relationships with vendors and suppliers as crucial partners in achieving our mission. This policy outlines the principles and procedures for managing vendor relationships and interactions to ensure transparency, fairness, and adherence to ethical standards.
Vendor Selection and Evaluation
Criteria for Selection: LCS selects vendors based on a combination of factors, including quality, price, delivery, and past performance. All purchase decisions are made with the primary objective of obtaining the best value for the school.
Vendor Contracts
Vendors seeking organization-wide contracts must obtain prior approval from the LCS Business Office and be reviewed on an annual basis to ensure the return on investment remains in LCS best interest. Such contracts may include insurance providers, retirement planning vendors, and similar service providers.
Contact with School Staff
Vendors requesting contact with specific school staff members, such as athletic coaches or club sponsors, must secure permission from the respective school principal.
Conflict of Interest
Vendor Compensation: No individual officially connected with or employed by LCS shall act as an agent for or receive any financial compensation or reward of any kind from any vendor for the sale of supplies, materials, equipment, or services to the school.
Fundraising Agreements
Written Agreements: LCS shall execute written agreements with vendors for all fundraising activities. These agreements will specify:
- Division of profits resulting from the activity.
- Payment of sales tax.
- Delivery dates.
- Package prices or other charges.
- Scheduled dates of service.
LCS is committed to upholding the principles of fair and ethical vendor relationships. The Executive Director and CFO, along with the Business Office, are responsible for overseeing compliance with this policy. Any violations or concerns regarding vendor relationships should be reported to the Business Office for investigation and resolution.
Review and Amendment
This policy shall be reviewed periodically by the Board of Directors to ensure its effectiveness and relevance. Amendments or updates may be made as necessary to align with the school's evolving needs and objectives.