Long Beach, CA
File #: 21-022TR    Version: 1 Name: Procurement Policy Update - Acquisition Threshold Limit Increase
Type: TR-Agenda Item Status: Approved
File created: 2/19/2021 In control: Long Beach Transit
On agenda: 2/25/2021 Final action: 2/25/2021
Title: Recommendation to: 1) Authorize an update on LBT's Procurement Policy to increase the acquisition threshold limit of the President and CEO: - Approve procurements for the Company up to $250,000 - Commit no more than an additional 10% of the contract for contingencies 2) Revisit the President and CEO acquisition threshold limit every five years. (Lisa Patton)
Attachments: 1. 16. Procurement Policy Update - Acquisition Threshold Limit Increase

TITLE

Recommendation to:

 

1) Authorize an update on LBT's Procurement Policy to increase the acquisition threshold limit of the President and CEO:

       

- Approve procurements for the Company up to $250,000

 

- Commit no more than an additional 10% of the contract for contingencies

 

2) Revisit the President and CEO acquisition threshold limit every five years.

 

(Lisa Patton)

 

SUGGESTED ACTION

Approve recommendation.