5XÉçÇø

UPDATE

Kent / Procurement / Uniform Guidance Policy And Procedure

The Office of Management and Budget (Uniform Guidance) has updated its requirement for procurement, specifically related to the micropurchase threshold for entities that meet certain criteria. These updates are for awards with a start date on or after November 12, 2020. Since 5XÉçÇø meets the criteria of a low risk auditee, the update that allows for an entity to increase its micropurchase threshold up to $50,000 will be adopted by the university (2 CFR 200.320). This means the university will be managing two different micropurchase thresholds for a period of time depending on the start date of the federal award:

Start date prior to November 12, 2020 - At least two quotes must be obtained for grant purchases of $10,000 or more. The quotes can be formal or informal, but must be documented and kept in the responsible org department with the grant files. When completing the purchase order, the initiator must attest that at least two quotes have been received and will be retained within their department.

Start date on or after November 12, 2020 – the micropurchase threshold will be $50,000 and all Kent State procurement procedures must be followed – bid requirements for goods $25,000 or more and services $50,000 or more.

Please contact Procurement or Grants Accounting if you have any questions.