The Office of the Vice President, Chief Financial Officer & Comptroller announces that updates to Section 7.2.3 – Purchases below the Small Purchase Limit (Small Purchases) have been published in Section 7 - Purchasing of the Business and Financial Policies and Procedures Manual.
This updated policy replaces the previous version and provides guidance to units on the documentation recommended for purchases below the small purchase limit.
Highlights of the policy and procedural updates include:
- Use of the “Purchase Requisition Form” in iBuy to replace the separate “Small Purchase Waiver Form" when submitting requisitions for small purchases. The form will document that multiple quotes were solicited and/or not attainable.
Contact
For additional details regarding this updated policy, please refer to the subject matter experts listed in the Purchases Who to Ask list.
For questions about the Business and Financial Policies and Procedures Manual, contact the CFO Business and Finance Policy Office at (312) 575-7903 or obfspolicies@uillinois.edu.
