CH(REGULATION) - PURCHASING AND ACQUISITION
It is the policy of the Board that renewal of contracts will not require Board approval unless material changes occur after the initial approval.
A "material change" is defined as the greater of $75,000 or an increase of 25 percent of the original not-to-exceed amount or subsequent increase approved by the Board, or any addition or deletion of the vendor(s) submitted when the initial approval was granted.
The purchasing director will present a monthly report as an information item to the Board identifying each contract that was renewed with a value exceeding $75,000. The report will include the following components:
The contract number and description;
Board authorized not-to-exceed amount and the renewal amount; and
The difference between the Board authorized not-to-exceed amount and the renewal amount expressed in dollars and a percentage.