Starting January 1, 2024, the University will adjust its bid threshold, increasing it from $100,000 to $150,000. This decision, backed by the campus Vice Chancellors, aims to align bid thresholds for goods, services, and construction.
In January, the Procurement Service Center updated the University’s Procurement Rule to update its purchasing thresholds to allow for informal competitive quotes by campus departments for purchases between $10,000.01 and $100,000 rather than requiring a Document Quote to be issued. This rule change is both compliant with Federal Uniform Guidance for grant and contract purchases and ensures that the University is being fiscally responsible with its purchases.
