Purchasing Thresholds for Grants
New Uniform Guidance Regulations – July 1, 2018 – procurement requirements are in effect.
Organizations, such as Fordham University, receiving federal awards will now be in compliance with the new procurement requirements included in the Federal 2 CFR 200 policy. The uniform guidance sets specific requirements for each of five types of procurement: micropurchases, small purchases, sealed bids, competitive proposals, and sole-source items.
- Documented Policies
- Full and Open Competition
- Conflict of Interest
- Cost and Price Analysis
- Vendor Selection
|Purchase Type||Characteristics and Requirements|
|Below simplified acquisition threshold of $150,000|
|Above simplified acquisition threshold of $150,000 (Construction – Not under Procurement Review)|
|Above or below simplified acquisition threshold|
Noncompetitive Proposals Sole Source Single Source
Falls into one or more of these four circumstances:
|Special Form Required Justification|
|Amex Corporate Card – Treasury Department –May only use for travel purposes - limit of $4,999|