If the material cannot be obtained via State contract the University requires competition, price reasonableness and or justification for purchases in excess of $2500.00 when using State funds. When competition is not attainable due to emergency or the sole source nature of a commodity or service, the department must document and justify the selection of the vendor and establish the reasonableness of the price. · Advertising Intent to Purchase in Excess of $20,000

New York State Finance Law requires the University to advertise every intended purchase in excess of $20,000 in the New York State Contract Reporter prior to making an award. Campus approval of sole source procurements does not preclude this requirement. · The President has designated the following individuals authority to review and approve sole source procurement:

o Vice President for Finance & Administration
o Director of Procurement