SECTION CONTENTS 1310.00 Encumbrances Account Statement 1320.00 Purchase Accumulation Exceeding $25,000 1330.00 Rent or Lease of Equipment 1340.00 Office Supplies
1310.00 Encumbrances - Banner Finance Report
When the monthly Finance Report is completed, Departments are responsible for reconciling the outstanding balances on Purchase Orders. These items should be listed on the Banner Finance Reports. For accounts using G&C funds, Departments are responsible for contacting their fiscal office in Grants & Contracts.
1320.00 Purchase Accumulation Exceeds $25,000
The accumulation of purchases from any given supplier with a cumulative value in excess of $25,000 is acceptable; however, the total contract value of each individual purchase shall not exceed the Department's delegation authority. Departments are NOT allowed to artificially divide requirements so they can circumvent purchasing regulations.
1330.00 Rent or Lease of Equipment
Departments are authorized to rent or lease equipment with a total contract value up to $25,000 in accordance with the procedures established in this manual. In the event the total contract value is over $25,000, Departments must prepare a Purchase Requisition and submit the PR to the MSU-PD.
1340.00 Office Supplies
Standard "Office Supplies" are identified in the State of Montana Central Stores Catalog. Departments may purchase office supplies from the State Central Stores Program or any commercial business. Since most office supplies fall within the small purchase threshold (total contract value of $5,000 or less), departments are authorized to purchase office supplies. In the event the estimated cost of the purchase is greater than $5,000, purchasing procedures must be followed.
Departments are urged to use standard items whenever possible and to be prepared to substantiate purchases that may be questioned.