The University’s goal for every purchasing transaction is to obtain the best value possible. Best value is determined by evaluating many factors (such as price, delivery capabilities, quality, past performance, training, financial stability, service capabilities, ease of ordering, payment, etc.) and selecting a Supplier that offers the best combination of those factors.
The University strives to procure most goods and services through the use of contracts with appropriate terms and conditions to properly protect the department, University, and Supplier. When bids are required by policy, they are to be conducted on an open and competitive basis and without favoritism, in order to maximize the best value to the department and University. Interested Suppliers will receive fair and impartial consideration.
The University’s procurement policy is intended to be consistent with the Generally Accepted Accounting Practices (GAAP), Uniform Administrative Requirements, Cost Principals and Audit Requirements for Federal Awards Found at 2 CFR 200, and the Federal Acquisition Regulation (FAR). University departments will ensure that each transaction is classified or defined as an allowable expenditure using the appropriate spend category in the Workday Financials system. For sponsored programs, certain purchases may be unallowable.