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Ohios threshold for informal procurement is set at $2,500. The process for purchases over $2,500 varies by agency and is addressed by each agencys policies and procedures. The states dollar threshold for formal competitive procurement is $50K.
What is the procurement threshold?
A procurement threshold is the restriction level at which a company should purchase goods and services. Essential procurement threshold best practices include setting up time frames, progress tracking, and transparency.
What is the bidding threshold for Ohio?
On October 24, 2024, the competitive bidding threshold for Ohio public school districts will increase from US$50,000 to the amount specified in Ohio Revised Code (ORC) Section 9.17, currently US$75,000, by virtue of Senate Bill 168 of the 135th Ohio General Assembly.
What is the procurement spend threshold?
There are also changes to the thresholds for Utilities, with the threshold for contracts for supplies and services changing from 426,995 to 429,809 and the threshold for works changing from 5,336,937 to 5,372,609.
What is the procurement appropriation threshold?
Procurement appropriations are used to finance non-construction-related investment items. This includes: - Equipment items not subject to centralized item management and asset control whose system unit cost meets or exceeds the Expense/Investment Threshold (currently $350,000).
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