- Union County Public Schools
- Board Policies
2-21 - Continuing Contracts
2 - Chapter 2 - Financial Operations
2-21 Continuing Contracts
Revisions History: Reviewed by GC 11/09/2020, Reviewed by GC 04/15/2020,Reviewed by GC 05/07/2018, 04/05/2016, 05/11/2010, 11/09/2006 Approved 03/07/2000
The following procedures and standards will be used in making decisions to enter continuing contracts:
- In addition to cash price bids, the school district may solicit financing proposals from the equipment vendors or inform equipment vendors that the purchase of the equipment is contingent on obtaining satisfactory financing.
- The finance officer or other designee of the superintendent will analyze the fiscal impact of any continuing contracts, including the amount of interest that will be paid and the useful life of the equipment or goods before entering into such a contract.
- Straight leases and financing services are not subject to competitive bidding; however, a reasonable effort will be made to obtain a competitive price and good value.
- Guaranteed energy savings contracts must be entered into following the procedures established in G.S. 143-64.17A to -64.17E and are exempt from otherwise applicable bidding requirements.
- Policy 2-19, Contracts with the Board, must be followed for all continuing contracts.
- The finance officer will report to the board on at least an annual basis on the overall debt load incurred through continuing contracts for goods and services (other than for employee salaries) which specifies the principal, interest paid and amount of outstanding obligations.
REVIEWED BY GENERAL COUNSEL: 4/15/20
REVIEWED BY GENERAL COUNSEL: 11/9/20