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Revisions to the Purchasing Policy
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Approve the revisions to the attached Purchasing Policy and Procedure Manual to be effective May 12, 2026.
The changes are necessary to reflect the new dollar thresholds set by the U.S. Federal Government FAR (Federal Acquisition Regulations - 2.101). This is specific to the changes to the Micro-Purchase Threshold changed from $10,000 to $15,000 and the Simplified Acquisition Threshold from $250,000 to $350,000.
The sections affected in the Purchasing Policy are as follows:
XXVII.E.1. Federal & Grant Purchases (page 44 of 96)
XXVIII.A.1.d. General Information (page 45 of 96)
XXVIII.A.1.e. General Information (page 45 of 96)
XXVIII.B.1.a.& b. Procurement Thresholds (page 46 of 96)
XXVIII.B.1. Note (page 46 of 96)