Micro-purchase Policy for Federal Grants

Micro-purchase- Is defined as an acquisition of supplies or services, the aggregate amount of which does not exceed the threshold as defined in 200.320 (78632, Federal Register, Vol. 78, No. 248/Thursday, Dec. 26, 2013/Rules and Regulation).  The threshold is currently $3000 for most purchase types (exception $2,000 in the case of acquisitions for construction subject to the Davis-Bacon Act).
Pratt Community College will abide by the following methods of procurement in order to be in federal compliance:
To the extent practicable, Pratt Community College will distribute micro-purchases equitably among qualified suppliers.  Micro-purchases may be awarded without soliciting competitive quotations if Pratt Community College considers the price to be reasonable. 
If small purchase procedures are used Pratt Community College will use price or rate quotations from an adequate number of qualified sources.Pratt Community College is aware of the Micro-purchase Policy as defined in 200.320 (78632, Federal Register, Vol. 78, No. 248/Thursday, Dec. 26, 2013/Rules and Regulations) and voluntarily complies.
 
Revision Dates:

Policy Number: 

3-07b

Policy Type: 

Board Policy

Adoption Date: 

Friday, December 26, 2014

Review Date: 

Monday, August 10, 2020

Revision Date: 

Tuesday, June 23, 2015