Procurement Thresholds

In an effort to save money and stay informed on the current market for goods and services, the University has adopted two different thresholds, which require departments to obtain multiple quotes from different vendors or to formally go out to bid.

General Procurement Policies

The following support documentation is required based on the amount of the purchase:

ALL requisitions (for contracts or purchase orders), regardless of amount, require Purchasing’s approval.

ALL orders over $2,500 will be reviewed by the Finance Department and are subject to final approval by the COO & Senior Vice President of Finance.

NOTE: Any request to spend restricted grant funds are reviewed and approved by the Controller or Senior Accountant.

$2,500 to $9,999

A Cost-Price Analysis Form (.pdf) must be completed and submitted prior to any check request or purchase order being approved. A minimum of three quotes should be secured, whether verbal or written, and listed in Section A.

If the purchase is a sole-source procurement, fill in Sections A, B & C and provide additional justification within Section B.

$10,000 and Above

The formal bid process should be undertaken for any purchase of goods or services over $10,000 by the requesting department. The bid process requires formal, written bids to be submitted by potential vendors and for this documentation to be forwarded to Procurement Services upon completion of the bid process.

The Sole Source and other Procurement Services forms can be found on the Procurement Services web page at:

/purchasing/forms