To improve the reliability of the financial statements and allow for more effective financial management of the University, the following policy has been adopted.
ALL purchases of goods and services for the University will require the submission of a CMC Vantage purchase order BEFORE ordered or contracted for services. Any exceptions to this policy must be approved by the chief operating officer.
Initial purchase requisitions must then be submitted in the CMC Vantage administrative system for approval.
A system of authorized online approvals will be established for each department. Department managers or their designee will be responsible for timely approval of requisitions.
The system will monitor the budget availability.
When goods and/or services are received, purchaser is responsible for recording the receipt of goods in the Vantage system. This process authorizes the Business Office to pay the invoice upon receipt.
Vendors are notified of this University policy by the Business Office.
Items purchased for inventory, such as mailroom supplies, will be managed using the Vantage Inventory module.
There are additional requirements for the following types of purchasing:
Purchasing Authority Policy
Capital Purchases & Construction Renovation Projects
The University uses a competitive selection process for awarding capital purchases and construction/renovation projects over $50,000. The primary selection process for capital purchases is solicitation of bids. The University reserves the right to refuse any and all bids as part of the process. The selection process for construction and renovation projects consists of a request for qualifications from interested parties followed by a series of elimination rounds conducted by a University-appointed committee.
**NOTE: The business office will reimburse individuals purchasing items with their personal credit card. (As long as the individual has exhausted any means possible to purchase the item through the above purchasing system.) Receipts must be provided and the goods must be approved for purchase.