FISCAL REVIEW COMMITTEE EXPANDS TO INCLUDE GOODS

 

The Fiscal Review Committee has expanded the scope of non-competitive contracts. In the past, the Fiscal Review Committee has required that state agencies submit for review non-competitive contracts and contract amendment for services that had a term of longer than one year and a cumulative value of $250,000.00 or more. As of April 1, 2012, T.C.A. § 4-56-108 will expand the Fiscal Review Committee’s contract review to include non-competitive contracts for goods that have a term of more than one year and a cumulative value of $250,000.00.

 

The committee also reviews non-competitive admendments to contracts over $250,000.00 even if the initial contract was reviewed through a competitive process.

 

For those contracts that must be submitted to the Fiscal Review Committee for review, the Committee requires that the university submit them at least 60 days before the proposed effective date of the contract or contract amendment. The admendment could lower the university's liability, be a vendor name change, change the services or the length of the contract. These are still required to be sumbitted.

 

For any questions about the Fiscal Review Committee or the change in what the committee reviews, contact Blake Reagan at BReagan@tennessee.edu.

 







Contact:

Charles M. Peccolo

Vice President & Treasurer

301 Andy Holt Tower
Knoxville, TN 37996
865-974-2302
865-974-2701 Fax

 

 

Class Calendar

To sign up for one of these classes or find out more information, please visit the Employee and Organizational Development site.

Advanced International Travel
10/24
Non-Competitive Justification (NCJ) 10/25
Basic Travel
11/7
Procurement Cards
11/8
Invoices
11/13
Advanced International Travel
11/27