Illinois Administrative Code
Title 44 - GOVERNMENT CONTRACTS, GRANTMAKING, PROCUREMENT AND PROPERTY MANAGEMENT
Part 1120 - OFFICE OF THE COMPTROLLER STANDARD PROCUREMENT
Subpart E - SOURCE SELECTION AND CONTRACT FORMATION
Section 1120.2020 - Small Purchases
Current through Register Vol. 48, No. 38, September 20, 2024
a) Application
b) In determining whether a contract is under the limit, the stated value of the supplies or services, plus any optional supplies and services, determined in good faith, shall be utilized. When the value is calculated month-to-month or in a similar fashion, the amount shall be calculated for a 12 month period.
c) If only a unit price or hourly rate is known, the contract shall be considered small and shall have a not to exceed limit applicable to the type of procurement (see subsection (a)).
d) If, after signing the contract, the actual cost of completing the contract is determined to exceed the small purchase amount, and the CPO determines that a supplemental procurement is not economically feasible or practicable because of the immediacy of the agency's needs or other circumstances, the Procurement Officer must follow the procedures for sole source or emergency procurement, whichever is applicable, to complete the contract.
e) Notice of award shall be published in the Bulletin no later than 10 business days after the contract is awarded.