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Purchasing Policy Updated - Purchase of Goods Policy Updated - Purchase of Services Policy CONTRACTS & COMPLIANCE.

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Presentation on theme: "Purchasing Policy Updated - Purchase of Goods Policy Updated - Purchase of Services Policy CONTRACTS & COMPLIANCE."— Presentation transcript:

1 Purchasing Policy Updated - Purchase of Goods Policy Updated - Purchase of Services Policy CONTRACTS & COMPLIANCE

2 Changes in Purchasing Policy Doc. T92-031, as amended, Revised 9/17/14 New, increased monetary limits for determining when competitive bidding is required New Procurement workflow approval level Employment Status Form required at dollar $1 for Independent Contractors Contracts & Compliance – October 22, 2014

3 COMPETITIVE PROCUREMENT Purchase of Goods/Services Goods Quotes are now required only when you purchase goods ≥ $10,000, previously $5,000 Amounts ≥$10,000 and <$50,000 You must obtain at least two quotes; three quotes are preferred Amounts ≥$50,000 must be a Competitive Procurement (bidding) No-bid justification form must be submitted for amounts of ≥$10,000, previously $5,000* * Where competitive bidding would be impracticable Services Employment Status Form required at dollar $1 for Independent Contractors Amounts <$50,000 per fiscal year (no quotes required) Amounts ≥$50,000 per fiscal year must be a Competitive Procurement (bidding) No-bid justification form must be submitted for amounts of ≥$50,000* Legal review >$100,000, previously $50,000 Notification to the President or designee about any proposed campus Contract exceeding $300,000 annually Contracts & Compliance – October 22, 2014

4 BuyWays Requisition New Workflow Approval Level For non-catalog requisitions Procurement approval is required for amounts of ≥$10,000 All other workflow approval levels remain unchanged Department Approval – no change $2,000 Special Approvals – no change $0 (Printing, Advertising, Property, IT, and EHS) ORSP Approval – no change $1,000 Contracts & Compliance – October 22, 2014

5 Questions? Come for Training Competitive Bid Overview Sessions will be held at the Bayside Office Center, 150 Mt. Vernon St. Tuesday, November 4 th (1:00 pm – 2:00 pm) & (2:00 pm – 3:00 pm) Thursday, November 13 th (1:00 pm – 2:00 pm) & (2:00 pm – 3:00 pm) Please contact cathy.hennessey@umb.edu or call 7-5060 to register. Purchase of Services Overview Thursday, October 30 th from 9:30-11:00 Presentation Room # 2 on the LL of the library. Please register through the Training Portal. Contracts & Compliance – October 22, 2014

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