The State of Missouri has granted the authority for all state colleges and universities to now set their own purchasing policies. As a result, the following changes to the Purchasing policies will go into effect on September 1, 2018:
- Purchases $0.01-$9,999.99-Purchases can be made without quotes being submitted to Purchasing. Purchasing encourages departments to obtain quotes, including state contracts, to ensure the best price and value is being received. These quotes should be retained by individual departments for one year.
- Purchases $10,000-$24,999.99-Purchases require the submission of at least two comparable specification quotes to Purchasing with the purchase requisition. The lowest quote will be used unless written justification is submitted to Purchasing, outlining why a higher quote is the best purchase to meet the needs of the University.
- Purchases for $25,000 or higher-Purchases must go through the formal solicitation process, unless the purchase has been documented to be a sole source purchase.
- Sole Source Purchases $10,000 or higher-Purchases require the submission of the Sole Source Justification form to Purchasing to document how the purchases meet the legal definition of a single feasible source.
- Purchasing Card purchases-Single purchase transaction limit will increase to $5,000 for qualifying purchases.
- Tax compliance will no longer be verified on vendors.
- All purchasing requisitions that are submitted before Sept. 1, 2018, will follow the Purchasing guidelines that are currently in effect.