Resolution 2025-08 - Laserfiche WebLink

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CITY OF LOUISVILLE PURCHASING POLICIES SECTION III - PURCHASE REQUISITIONS A purchase requisition serves to inform the Finance Department of the needs of the departments, correctly identifies a material or service requested for the department's operations, and identifies the expenditure account number to which the purchase is to be charged. TYPES OF PURCHASE REQUISITIONS PETTY CASH REQUISITIONS The petty cash fund shall be used to pay for small obligations which do not exceed $50.00. Petty cash requisitions (Petty Cash Form) are submitted to the City's cashier and will be honored only if the requisition is properly completed and bears the appropriate departmental manager approval. Petty cash requisitions will be granted under the following circumstances: An employee is requesting a cash advance for expenditures relating to City business (sales receipt must be returned to cashier within one business day); An employee is requesting a reimbursement for expenditures relating to City business (sales receipts must be attached to the requisition). It is the responsibility of the employee using the petty cash fund to obtain the City's tax-exempt number and present it at the time of purchase. Sales tax on purchases will not be reimbursed. PURCHASE REQUISITIONS Purchase requisitions shall be used to initiate the purchase of materials or services of $10,000 or more and for which a purchase order will be issued. Purchase requisitions will be granted under the following circumstances: The requesting department shall be responsible for ensuring budget availability, obtaining prices, designating vendors, and preparing purchase requisition far enough in advance of the required date; All requisitions must be approved by the Department Director and the Finance Director and, if over $50,000, approved by the City Manager; A purchase order number must be obtained prior to placing orders with vendors. SECTION IV - PURCHASE ORDERS A purchase order (P.O.) authorizes a vendor to release goods or services to the City and informs them that funds have been encumbered to pay for the goods or services. A purchase order becomes a binding contract when the order is completed and signed by 6