MUBOG Purchasing Policy FA-9

Description

MARSHALL UNIVERSITY BOARD OF GOVERNORS Policy No. FA-9 Purchasing Policy 1 General Information. 1.1 Scope: Establishes the rules and policies governing and controlling purchase, acquisition and inventory management of materials, supplies, equipment, services, construction, and printing by the Governing Board of Marshall University, created pursuant to West Virginia Code §18B-2A-1 and hereinafter referred to as the “Governing Board”. 1.2 Authority: West Virginia Code §18B-5-3 through §18B-5-9. 1.3 Passage Date: April 29, 2021 1.4 Effective Date: June 9. 2021 1.5 Controlling over: Marshall University 1.6 Background: This policy amends the original policy FA-9 approved on January 25, 2006, updated April 22, 2010, further amended on April 17, 2012 and June 12, 2015. Statutory References: West Virginia Code §18B-5-3 through §18B-5-9. Amended on April 29, 2021, to clarify monetary threshold for bidding requirements for architectural, engineering, and other consultant services on projects. 2 Definitions 2.1 As used in this policy, all terms have the same meaning as provided in West Virginia Code, and as follows: 2.1.1 “Board” means the Governing Board of Marshall University. 2.1.2 “Best Value Purchases” mean a procurement method that emphasizes value over price. The best value might not be the lowest cost. Generally achieved through the Request for Proposals (RFP) method. An assessment of the return that can be achieved based on the total life cycle cost of the item; may include an analysis of the functionality of the item; can use cost-benefit analysis to define the best combinations of quality, services, time, and cost considerations over the useful life of the acquired item. 2.1.3 “Chief Financial Officer” means the individual designated by the president of Marshall University for that function in administrative procedure ADMIN-1. 2.1.4 “Chief Operations Officer” means the individual designated by the president of Marshall University for that function in administrative procedure ADMIN-1. 2.1.5 "Chief Procurement Officer" means the individual designated by a President of a state institution of higher education to manage, oversee and direct the purchasing and acquisition of supplies, equipment, services, and printing for that institution.