Posts

Federal Micro Purchase Limit Has Been Increased

If your organization receives federal funding and is subject to federal procurement standards, you should already have a policy in place. Those policies generally identify the different rules for different purchasing thresholds including micro purchases, simplified acquisitions and larger purchases. The micro purchase threshold was initially increased from $3500-$10,000 for all entities dealing with the Department of Defense. After the Office of Management and Budget increased the thresholds for transactions involving the National Defense Authorization Act, they issued a memo, OMB Memo M-18-18, which increased the simplified acquisition threshold for all nonfederal entities dealing with all federal agencies. Procurement responsibilities for the simplified acquisition threshold are the least restrictive. When the aggregate amount does not exceed the micro purchase threshold (now $10,000), nonfederal entities (that’s you!) must distribute micro purchases among qualified suppliers if practical. Micro purchases can be made without soliciting competitive quotations if you consider the price reasonable.

Winter 2019 Newsletter

Download the complete newsletter HERE

INSIDE THIS ISSUE:

• Check Your Website… the IRS will!
• Cyber Scam Update
• Federal Micro Purchase Threshold Has Been Increased
• Good News and Bad News About Donor Advised Funds
• Affordable Housing May Benefit from the New Opportunity Zone Tax Break
• WebStar Winner: NetHope
Download the complete newsletter HERE