Starting October 1st, Contract and Grant Accounting (CGA), with the help of Procurement, will require documentation of more than one rate quote for any purchase greater than or equal to $10,000 and charged to sponsored project funds. This change will ensure the University complies with Federal regulations found in 2 CFR 200 without impacting purchases charged to funds not managed by CGA. POs/p-card transactions submitted to CGA for approval will be rejected if documentation of price comparison (at time of purchase) for similar items or services totaling $10,000 or more is not present. This documentation may be as simple as a screen shot from two suppliers’ websites. All purchases will still be subject to the University’s policies and procedures as well as the State of Alabama Bid Law which requires purchases of $15,000 or more should be competitively bid. As the lower, $10,000, threshold is only applied to charges to sponsored project funds, any journal entries moving charges to a sponsored project also will require documentation of a price comparison conducted at the time of purchase. For example, the purchase of an item over $10,000 charged to a department fund that you later want to move to a sponsored project will require the appropriate documentation or the move will not be allowed. Sole source would also be acceptable as long as approved by Purchasing. Should you have any questions, please contact Contract and Grant Accounting.