Procurement Threshold Declaration Extension Update
Due to ongoing supply chain disruptions, escalating prices, and the labor market affecting both suppliers and the University of Colorado, the Procurement Service Center is extending the January 21, 2022 Procurement Declaration through December 31, 2022.
Under this declaration, mandatory bid requirements for goods up to $50,000 and services up to $150,000 continue to be temporarily suspended, and continue to be exempt from the requirement of a solicitation, Sole Source Justification, or presence of an existing competed contract.
We anticipate this will be the final extension of the emergency declaration. Starting in January you can expect to see permanent changes to our bidding requirements to include a new combined bid threshold for goods and services, as well as procurement procedures for all purchases greater than $10,000. We will announce these changes in the coming weeks.
Please be on the lookout for upcoming communications about this exciting change!