SUBJECT: Report of Purchases between $25,001 and $50,000

BACKGROUND:

At the March 8, 2001 Board of Regents Budget and Finance Committee meeting, the administration presented an item for discussion to increase the Board expenditure approval limit from $25,000 to $50,000. The increase was approved by the Board of Regents at its May 9, 2001 meeting.

DESCRIPTION:

In compliance with that approval and to ensure the Board fully complies with its fiduciary responsibilities, the Board of Regents requested all items approved by the administration between $25,001 and $50,000 be listed each month and included for ratification as a Consent Agenda item.

FINANCIAL IMPLICATIONS:

These expenditures are in line with current year budgets.

RECOMMENDATION:

President Farley recommends the Board of Regents ratify the attached procurements.

______________________ ________________________

(date) Jerry B. Farley, President

Description Vendor Amount

IBM iSeries System for the Source One, Inc. $27,177.00

University Bookstore

Competitively bid

Two bids received, award to

lowest-price bid.

Elevator Repair ThyssenKrupp Elevator $46,286.00

Morgan Hall West Elevator

Replacement of hydraulic

jack cylinder.

Facilities Services

Project #02-48