Procurement

Procurement:

• Governed by A-110 (2 CFR 115) and A-21 or A-122 (2 CRF 220)
• Mechanism for procurement:
• Purchase Orders
• Subcontracts
• Consulting Contracts

Procurement: Written Policies and Procedures:

• Cognizant of policies and procedures governing procurement of goods & services
• Familiar with cost principles and procurement procedures described by federal regulations
• Trained in institution's policies and requirements imposed by external sponsors
• Vendor relationships with institution employees reviewed to prevent conflict of interest in selection
• Procedures in place to detect, prevent & report kickbacks as required by Federal regulations

Procurement: OMB Circular A-110A 102 & FARs

• Bid system provides competitive procurement & justification for accepting other than lowest bid
• Criteria for sole-source acquisition
• Policies to encourage procurement from small, minority, disadvantaged and/or women-owned businesses
• Policies to identify debarred/suspended vendors
• Documentation maintained for certified cost or pricing data as applicable
• Documentation maintained indicating that costs analysis was performed as necessary
• System in place to avoid purchase of unnecessarily duplicative equipment
• As appropriate, contracts & agreements for the most frequently purchased items and services are developed to reduce errors in pricing or lost opportunity costs, improve services and reduce re-order cycle times
• Retention of financial and administrative records as regulated by OMB Circulars and FARs
• All records pertinent to an award retained for a period of three years from the date of the final expenditure