Policies updated

The following policies have been updated or added and recently approved:

11.15 Purchasing Policy (revised):

  • Raising PO requirement from $1,000 to $2,500
  • Infrequent purchase of materials, equipment, goods, supplies or services of $2,500 and less may be made without the execution of a requisition and/or purchase order (was $1,000)
  • BOT to consent to purchases $25,000 and above as opposed to providing approval.
  • (3) Written competitive quotes required between $5,000 and $14,999 (was sealed at $9,999)
  • Formal sealed bidding procedures will be conducted on all purchases over $25,000 (was $10,000)
  • Emergency purchases exceeding $100,000 may be approved by the President or designee (VP of Finance and Administration) to guarantee the safety of students, staff and visitors. BOT approval was formerly required.
  • Competitive sealed (hardcopy or electronic) bidding on all purchases of goods and services over $25,000 will be conducted and bids will be advertised in the appropriate media (there are no departmental exceptions) (was $10,000)

For more information, see the policy website.

Explore posts in the same categories: Uncategorized

Tags: ,

You can comment below, or link to this permanent URL from your own site.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: