Micro-purchases, a new subset of small purchase requirements
- Friday, May 16th, 2014
According to 2CFR Part 200.320 There is a provision for “micro-purchases.” The definition of a “micro-purchase” is found at 2CFR Part 200.67 and says:
Micro-purchase means a purchase of supplies or services using simplified acquisition procedures, the aggregate amount of which does not exceed the micro-purchase threshold. It (threshold) is $3,000 except as otherwise discussed in Subpart 2.1 of that regulation, but this threshold is periodically adjusted for inflation.
Most organizations do not have policies in place to handle this new subset of small purchase requirements. The question for all Head Start/EHS grantees is, Have you started to review your fiscal manual to determine what changes are going to have to be made to be in compliance when 2 CFR Part 200 requirements come into effect December 26, 2014?
T/TAS Finance & Management Specialist, Perry Davis, is presenting the Super Circular: The Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards as a Pre-Conference Seminar of the Region IV Head Start Association 2014 Leadership Summit. The seminar is on Monday, June 16, and runs from 8:00 a.m. – 4:00 p.m. and includes the Public Policy Luncheon.
For those programs not able to avail themselves of this informative presentation, please keep checking the T/TAS event list at http://orgs.wku.edu/ttas/training-list.php for other upcoming “Super Circular” training opportunities.