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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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Charitable Ventures qq <br />eo�w„Policies and Procedures _ 1 <br />BID PROCESS <br />CVOC requires three bids be solicited for all purchases of $25,000 or more. Projects must consider <br />annual or total multi -year spending for products or services needed on a regular or repetitive basis to <br />determine whether a bid needs to be performed. It is not determined by the average monthly spending <br />for a particular product or service. To reiterate, just because the monthly spending on a particular <br />product or service may be less than $25,000 does not exempt the Project from having to solicits bids. In <br />addition, projects should generally plan to have established contracts re -bid at least every three to five <br />years. Some contracts can be longer, primarily those that require a significant investment by the vendor. <br />All bid openings are to be scheduled with CVOC. <br />RECORD RETENTION <br />Projects must maintain copies of all documentation related to purchases and shall be forwarded to the <br />CVOC Finance Department. <br />INVOICING/PAYMENT <br />A purchase transaction is complete only after the goods/services have been received and the supplier <br />has been paid. When a Purchase Order is issued, the project assumes responsibility to make sure the <br />vendor is paid within an appropriate period of time. By issuing a Purchase Order through CVOC's <br />accounting software in advance of the purchase, funds are properly encumbered and set -aside to pay <br />these obligations. The encumbrance is not a contract, but ensures that the required funding is available. <br />Accounts Payable pays invoices for CVOC. <br />PAYMENT PROCESSING <br />Vendors are instructed to send invoices directly to CVOC Accounts Payable for proper processing. This is <br />the best way to ensure invoices are paid in a timely manner. Invoices will be entered by Accounts <br />Payable. If after review of the invoice, the bill should not be entered/paid (due to a dispute with the <br />vendor, etc.) the project shall notify Accounts Payable in a timely manner. In order to maintain a good <br />payment record and to encourage the proper use of Purchase Orders, Accounts Payable will give the <br />highest payment priority to original invoices supported by properly issued and approved Purchase <br />Orders, and confirmation of receipt of goods and services. <br />PAYMENT TERMS AND PENALTIES <br />CVOC's standard for payment of vendor invoices is within thirty (30) days after receipt of the invoice <br />REQUESTING NEW VENDORS <br />If a vendor needs to be added, projects must ask the vendor to fill out a W-9. This process is <br />administered by Accounts Payable, who will first verify whether the vendor already exists in the system <br />and may also check several other sources (the Federal 'Do Not Use' list, US Treasury, etc.) before adding <br />the new vendor. A signed W-9 form must be obtained from the vendor prior to payment to vendor. <br />
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