FY24-Compliance-with-Purchasing-and-Budget-Policies.pdf — PaddleOCR-VL (Baidu)

Finance and Administration Academic Services #202 | 400 East Main Street Frankfort, KY 40601 | (502) 597-6343 KYSU.EDU

TO: Faculty & Staff Kentucky State University

FROM: Dr. Wendy D. Dixie Acting Vice President of Finance and Business Affairs

DATE: July 18, 2023

RE: Compliance with Procurement and Budget Policies and Procedures

As we have opened the new fiscal year, the success of Kentucky State University greatly relies on our responsible and prudent financial planning as well as strict adherence to our University's procurement policies. It is crucial to remind all individuals involved in any part of their department/grant budget management or procurement process about their responsibilities.

Procurement

As you know, Kentucky State University (KSU) has approved procurement policies and guidelines to ensure transparency, fairness, and efficiency in all procurement activities. These policies are in place to protect the organization's interests, comply with laws and regulations, and promote responsible use of resources. Unfortunately, there have been instances where our procurement policies were not followed, leading to deviations from established procedures and compromising the integrity of our procurement processes.

Compliance with our procurement policies is mandatory for all KSU employees and any individual involved in any aspect of the procurement process, including purchasing goods, services, or entering into contracts on behalf of KSU. Failure to comply with these policies may result in disciplinary actions, including termination.

To ensure compliance, the following actions are required from everyone involved:

Familiarize yourself with the KSU's procurement policies, guidelines, and procedures. These documents are available on Purchasing's webpage and can be accessed here. Please consult them whenever engaging in any procurement activity.
Seek appropriate approvals and follow the designated procurement channels as outlined in the policies. Obtain necessary authorizations before initiating any purchasing process or entering into contractual agreements.
Maintain accurate and comprehensive procurement records. Properly record and store all relevant documentation, such as purchase orders, invoices, contracts, and vendor information, according to our record-keeping procedures.