Minimum Bid Thresholds Adjusted by State Treasurer - 07/02/2015
Pursuant to N.J.S.A. 40A:11-3, the State Treasurer has increased the minimum bid threshold from $36,000 to $40,000 for entities subject to the Local Public Contracts Law whose purchasing agents possess a Qualified Purchasing Agent (QPA) certificate awarded by the Division of Local Government Services. As such, the new quote threshold for local units with QPAs is $6,000 (15% of the $40,000 QPA bid threshold). Local units that do not have a QPA-certified purchasing agent remain subject to the $17,500 minimum bid threshold set forth in N.J.S.A. 40A:11-3 and 40A:11-9a, with the corresponding quote threshold remaining $2,625 (15% of the $17,500 non-QPA bid threshold). Pursuant to N.J.S.A. 18A:18A-3, the State Treasurer has also increased the minimum bid thresholds for school districts with QPA-certified purchasing agents from $36,000 to $40,000. Like local units with QPAs, the new quote threshold for school districts with QPAs is $6,000. The minimum bid threshold for those school districts without QPA-certified purchasing agents has also been increased from $26,000 to $29,000, with the corresponding quote threshold increased to $4,350 (15% of the $29,000 non-QPA school district bid threshold). The bid threshold adjustments are effective as of July 1, 2015. Local Finance Notice 2015-20 discusses this topic in detail.
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Storm Response: Financing and Procurement Matters - 07/02/2015
On Tuesday, June 23rd, storms moved through New Jersey bringing significant rainfall and damage to portions of the State. Local Finance Notice 2015-11 has been issued to inform impacted local units of relevant post-storm financing and procurement matters.
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