Procurement Policy & Procedures Presented by Office of Purchasing

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

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

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)

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

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

Procurement Principles

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

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

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

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

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

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, email, or fax without a PO given to the Vendor first is in Non-Compliance Confirming Order Form

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

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

Purchasing & AP Website