PURPOSE:

To establish a uniform basis for authorization and processing of purchasing transactions, to ensure that proper financial internal controls are in place for all materials and services procured by the Library as well as to ensure that such acquisitions are conducted in an open and competitive manner.

POLICY STATEMENT:

It shall be the general policy of the Library to purchase materials and services from the most economical sources, given the relative factors of quality and cost involved, and when practical (i.e., quality and costs are comparable), first preference will be given to a supplier/vendor within the local area utilizing the following criteria:

A.      Authorization to Purchase

Materials and services must be formally authorized by the LTDL Director before purchase.  Such purchases must be recorded in the Library’s accounting system, must be consistent with the Library’s annual budget as approved by the LTDL Board of Trustees and must be made in accordance with the requirements contained in this policy.    

B.      General Information/Purchasing Criteria

1. Petty Cash.  Small items of under $100 each may be purchased using petty cash funds when such supplies are otherwise not available through existing inventories and normal purchasing procedures (e.g., small and emergency needs).  However, any such acquisition must still have a supporting invoice/receipt for the items purchased and be documented regarding the purchaser and appropriate purpose. Petty Cash fund is not to exceed $100 unless by Board resolution.

2. General Purchases.  Purchase requisitions, with appropriate supervisory approvals, are required prior to acquisition of all needed materials and services not covered by Appendix III in the LTDL By-laws Expenditures/Delegated to the Library Director.

3. Sole Source/Noncompetitive Purchases.  A sole source purchase is accomplished through solicitation of a proposal from only one vendor, or after solicitation from a number of vendor sources, competition is determined to be inadequate.  Such purchases may be made when:

·         The item is available only from a single source;

·         There is an emergency or the public need for the item will not permit a delay resulting from a formal competitive solicitation;

·         A repair item related to an existing piece of capital equipment requires the use of specified vendor services that cannot be competitively solicited otherwise; or

·         There is certainty that the cost of such item with a local vendor is no higher than the price that would be paid for such an item if acquired from other potential vendors.

4. Emergency Purchases.  In emergency situations the LTDL Board President, LTDL Board Treasurer or the LTDL Director is authorized to approve purchase materials and services without price quotes and purchase requisitions.  Such purchases must be made from the most economical and reasonable source available at the time.  In such instances, the nature of the emergency must be written and this documentation, along with a subsequently and appropriately approved purchase requisition, must accompany the invoice/receipt prior to payment.

5. Purchasing Policy Exceptions, Deviations and Interpretations.  These shall be referred back to the LTDL Board for final determination.