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CHARTIABLE VENTURES OF ORANGE COUNTY (DBA PROJECT KINSHIP)
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CHARTIABLE VENTURES OF ORANGE COUNTY (DBA PROJECT KINSHIP)
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Last modified
12/7/2023 3:45:18 PM
Creation date
7/23/2019 11:47:57 AM
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Contracts
Company Name
CHARTIABLE VENTURES OF ORANGE COUNTY (DBA PROJECT KINSHIP)
Contract #
A-2019-097
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
7/2/2019
Destruction Year
2025
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CharitableVentures '^.. <br />Policies and Procedures _.. <br />PROCUREMENT POLICY <br />INTRODUCTION <br />CVOC's goal for every purchasing transaction is to obtain the best value possible. Best value is <br />determined by evaluating many factors (such as price, delivery capabilities, quality, past performance, <br />training, financial stability, service capabilities, ease of ordering, payment, etc.) and selecting a vendor <br />that offers the best combination of those factors. When bids are required by policy, they are to be <br />conducted on an open and competitive basis and without favoritism, in order to maximize the best value <br />to the projects and CVOC. Interested suppliers will receive fair and impartial consideration. CVOC's <br />procurement policy is intended to be consistent with the Generally Accepted Accounting Principles. <br />CVOC projects will ensure that each transaction is classified or defined as an allowable expenditure. For <br />sponsored programs, certain purchases may be unallowable. <br />AUTHORITY AND RESPONSIBILITY <br />As stated above, CVOC maintains a procurement environment that delegates considerable decision - <br />making authority to projects. <br />These activities include: <br />• Determining which products and services they need to run their programs. <br />• Initiating requisitions to the existing active vendors. <br />• Appropriately handle individual purchases less than $500. <br />Employees involved in the purchasing process take full responsibility for understanding CVOC's policies <br />and procedures regarding purchasing and vendor relations. Purchasing decisions are business decisions <br />made on behalf of CVOC and therefore should be made with the utmost consideration for what is in the <br />best interest of CVOC. <br />Segregation of duties and responsibilities in the purchasing process provides proper controls. As the <br />dollar value and complexity of a purchase increases, so does the level of authority and responsibility <br />required to obligate CVOC for a purchase. <br />An example of segregation of duties within a project is as follows <br />• Requester/end user: Determine what they need; Research vendors; Solicit prices; Analyze costs and <br />assess other important factors (i.e. delivery, customer service, etc.); Select a vendor; Initiate a Purchase <br />Order process through CVOC's financial system; Track documents and paperwork flow; and Ensure the <br />proper receipt of ordered goods or services. <br />• Approver (program director, etc.): Validate the legitimate business purpose of the transaction; <br />Validate that adequate funding is available; Approve purchase orders; Ensure compliance with CVOC <br />policy and applicable regulations; Monitor and reconcile purchase transactions using the financial <br />system and associated financial statements and reports; Review and approve reimbursement requests <br />and other special purchasing transactions; and Monitor budget. <br />
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