Procurement Involving Federal Funds.docx

The document outlines the procurement procedures that must be followed when acquiring property or services under a federal award. It emphasizes the importance of adhering to federal procurement standards and regulations, including specific categories such as general procurement standards, competition, methods of procurement, and contract provisions. The standards require oversight of contractors, maintenance of ethical conduct standards, avoidance of conflicts of interest, responsible contractor selection, record-keeping, and settlement of contractual issues. It also discusses the use of Time and Material contracting, open competition, and restrictions on certain procurement practices. The document further details procurement thresholds based on purchase amounts, competitive pricing requirements, and the use of non-competitive proposals under specific circumstances. Additionally, it highlights public policy objectives related to small businesses, minority firms, women's business enterprises, and labor surplus area firms, emphasizing the need to promote their participation in procurement processes.