3. Procurement Policy & Procedures
Presented by
Office of Purchasing

4. Procurement Policy What’s New Procurement Principles
Competitive Bidding Procedure
Consulting Agreements
Sole & Single Source Procedure
Confirming Orders
Standing PO
Prepay/Deposit
Authorized Signatures for Contracts
Website

5. What’s New Capital Equipment Budget Check for Available Funds
Prepay/Deposit
Please contact Purchasing first for We are your partners!

6. Capital Equipment Threshold $1,000 per unit price Three Bids required
Competitive Bids are necessary
Capital Equipment Fund Accounts
90100 use instead of 01 fund (use with 79XXX)
90300 use instead of 3 fund ( use with 79XXX)

7. Budget Check
Ensure Budget exist in the Accounting String before creating the Requisition
Insufficient Funds will result in PO hold
Funds Transfer
Self-Service Preferred
01 Fund only
Contact the Budget Department for transfer on other funds

8. Prepay vs Deposit Deposit Allowable up to 50% 100% no longer allowed
Examples: Yearly Subscriptions and Renewals
Paid upfront but amortized monthly

10. Procurement Principles

11. Procurement/Purchasing
Vendor Selection
Payment Terms
Strategic Planning
Negotiation of Contracts
The actual purchasing of goods or services
Purchasing a division of Procurement
Objectives
Ensure quality & value
Best possible cost
Prompt delivery

12. Competitive Bids
Creates a transparent environment that is an open and fair bid
Fixed price or cost
Greater than $1,000
Three or more competitive quotes/bids
Request for proposal (RFP) with evaluation method
John Allen

13. Sealed Bid
Sealed bids is method of competitive bids, public opening of bids and the awards
Usually Government Contracts
All Construction Projects
Price major factor
Greater than $1,000
Three or more competitive quotes/bids
Request for proposal (RFP) with evaluation method

14. Consulting Agreements
Department Responsibilities
New Vendor Package
Supporting Document
Ensure the Vendor Completes the Consulting Agreement Form
Vendor & SVP/CFO Signatures before submitting to Purchasing
Standing Req/PO
Consulting Agreement Form

15. Sole & Single Source Procedure
Sole-Source: No other choice or option
Unique
One of a Kind
No Substitution
No Competition
Reviewed by Office of Purchasing
Single-Source: Choosing a specific company
Preference
Product Availability
Emergency
Reviewed by Office of Purchasing
Mischka Maxwell for international
Itinerary form for all faculty, staff and students

16. Confirming Orders Also known as “After-the-Fact” orders
An unauthorized purchase made in advance without having a valid purchase order in place.
All Committed Orders made by phone call, , or fax without a PO given to the Vendor first is in Non-Compliance
Confirming Order Form

17. Standing POs Repeated Weekly or Monthly Charges Up to Twelve Months
Close at Fiscal Year Ending
Exceptions:
Contracts
Agreements
Leases

19. Authorized Signature Contracts & Agreements President
SVP for Academics and Provost
SVP/CFO
Quotes
Department Head

20. Purchasing & AP Website