Low Dollar Value definition
Low Dollar Value means those purchases that are valued under $5,000 including applicable taxes, freight and other charges that may apply. Purchasing cards are the preferred method to procure low dollar value items and must be used wherever they are accepted when the Authorized Purchasing Contact has been provided with a purchasing card. There are no competitive requirements for low dollar value purchases; however vendor of record agreements and blanket purchase orders should be used unless an emergency prevents this (see 3.13). Even though they are low value, these purchases still must be tracked and applied to the appropriate General Ledger Code, Work Order or Internal Order or Project