Dollar Thresholds

 

GOODS: SERVICES: CONSTRUCTION:
$3,000 to $10,000.00 Purchasing Agent Discretion $3,000 to $25,000.00 Purchasing Agent Discretion $3,000 to $25,000.00 Purchasing Agent Discretion
$10,000 to $150,000.00 Documented Quote via State of Colorado "BIDS" System $25,000 to $150,000.00 Documented Quote via State of Colorado "BIDS" System $25,000 to $150,000.00 Documented Quote via State of Colorado "BIDS" System
$150,000 and more Formal Invitation For Bid via State of Colorado "BIDS" System $150,000 and more Formal Request for Proposal via State of Colorado "BIDS" System $150,000 and more Formal Invitation for Bid via State of Colorado "BIDS" System and advertise in Coloradoan and The Daily Journal

University policy states that all purchases for goods and services greater than $3,000 should be processed with a purchase requisition. "Small Dollar" purchases up to and including $3,000 for a single transaction should be processed via PCARD or on a DV.

Definitions:

  1. Purchasing Agent Discretion - Competition not required. However, PA may elect to solicit competition if deemed in the best interest of the University. All purchases greater than $1,500 require a written quotation per the Uniform Commercial Code.
  2. "BIDS" System - State of Colorado Internet bidding system. Only method of bid notification allowed.
  3. Documented Quotation - Informal quote process. Must be posted on the State of Colorado "BIDS" System for a minimum of three (3) business days.
  4. Invitation for Bid - Formal bid process. Must be posted on the State of Colorado "BIDS" System for a minimum of fourteen (14) calendar days.
  5. Request for Proposal - Formal process which considers criteria other than prices in evaluation and award. Must be posted on the State of Colorado "BIDS" System for a minimum of thirty (30) calendar days.
  6. Small Dollar Purchase - Small dollar purchases are those purchases where it is NOT anticipated that future (in the fiscal year) purchases of like or similar goods or services will be needed, OR if it is anticipated, that any future recurring (in the fiscal year) purchases will remain small, cumulatively $3,000 or less. The reasoning behind this rule is that small transactions that are recurring can add up to large purchases and would be subject to competitive bidding in order to comply with procurement and fiscal rules and to assure maximum value to the University.

Source Selection:

  1. State of Colorado and University Price Agreements. Consult with Purchasing Agent.
  2. Bid Process. Documented Quote, Invitation for Bid or Request for Proposal via the State of Colorado "BIDS" System. Consult with Purchasing Agent.
  3. Sole Source. Review sole source guidelines and consult with Purchasing Agent.
  4. Emergency purchase per Colorado Revised Statute 24-103-206. See Procurement Rule R-24-103-206-01 for definition and consult with Purchasing Agent. Emergency determination made by the Director of PCS.