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. 

Under this adjustment, the Source Selection and Price Reasonableness (SSPR [3]) form will remain a requirement for purchases that exceed $10,000, unless an exception applies (see the SSPR form [3] for more details). However, it will now apply to purchases up to the new bid threshold of $150,000. As a reminder, the SSPR form is crucial for adhering to the Uniform Grant Guidance (2 CFR Part 200), ensuring that prices on federally funded purchases exceeding $10,000 are deemed "reasonable" based on relevant factors and documented accordingly.  For non-federally funded purchases the SSPR form confirms and documents that the prices paid by the University are fair and reasonable.