New 蹤獲扦 Guidance on Micro-Purchase Flexibility Under EDGAR
DATE: | November 29, 2018 |
SUBJECT: | New 蹤獲扦 Guidance on Micro-Purchase Flexibility Under EDGAR |
CATEGORY: | EDGAR Purchasing Requirements |
NEXT STEPS: | None |
In an August 28, 2018,泭To the Administrator Addressed letter, 蹤獲扦s Department of Contracts, Grants and Financial Administration announced the decision by the Office of Management and Budget (OMB) to increase the micro-purchase threshold from $3,500 to $10,000, effective July 1, 2018.
This letter provides new 蹤獲扦 guidance and flexibility regarding micro-purchases.
New Micro-Purchase Flexibility
As required under EDGAR, the micro-purchase threshold of $10,000 is an aggregate amount. The LEA may expend no more than $10,000 on micro-purchases throughout the fiscal year. The threshold amount applies to the sum of all the federal grants received by the LEA.
To increase LEAs micro-purchase flexibility, 蹤獲扦 is providing the following guidance:
- The $10,000 aggregate amount threshold applies to purchases of like-types of items.
- In its local policies and procedures, the LEA must define what like-types of items may be micro-purchased.
- The $10,000 threshold applies to each like-type that the LEA defines.
- Once the LEA reaches the $10,000 threshold, it must follow small purchase procedures and collect at least two price quotes for additional purchases of items for that like-type.
- A like-type may correlate to a subcategory of a commodity code (not to the commodity code itself).
- Like-type may not be defined as a single purchase order or a single vendor.
- For each like-type that the LEA defines in its local policies and procedures, it may expend up to the $10,000 threshold across all its federal grant funds for the entire fiscal year.
- 蹤獲扦 does not limit the number of like-types that the LEA may define, nor does 蹤獲扦 limit the cost of the items categorized as like-types. LEAs must be aware, however, that their like-type definitions are subject to monitoring and audit.
LEAs must be prepared to submit their like-type definitions to 蹤獲扦 monitors and auditors.
For Further Information
With any questions about the increased federal micro-purchase threshold or 蹤獲扦s new flexibility for micro-purchases with federal grant funds, email the Department of Contracts, Grants and Financial Administration at GrantSupport@tea.texas.gov.