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Minimum Bid Thresholds Adjusted by State Treasurer

Thursday, July 2, 2015   (0 Comments)
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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. The
Division will be issuing a Local Finance Notice further discussing the
matter.

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