Page 24 - Finance for “Non-Financial” Board Members

Policies & Procedures

(Organizational Standard 8.11)

A written procurement policy is in place and has been reviewed by the
governing board within the past 5 years

Micro-Purchase (Under $3000) equitable distribution of purchased
amongst qualified providers

Small purchase transactions over $3000, but less than $150,000,
mandate receipt of an appropriate number of rate or price quotations

Items over the $150,000 can be acquired through: Sealed bids,
Competitive proposals or noncompetitive proposals