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CL <br />ITY OF OUISVILLE <br />PP <br />URCHASING OLICIES <br />OBJECTIVE <br />The City of Louisville is funded by tax dollars. As such, the Ci <br />procedures have been established to ensure that tax dollars are spent in the most <br />economical way. The City uses competitive means for the purchase <br />services whenever possible and believes in open, fair competitio. The purchasing levels <br />in this policy are subject to periodic review and may be changed with City Council <br />approval based on inflation and other factors. <br />USE OF POLICY <br />This policy and the award of bid provisions herein are solely for the fiscal respons <br />and benefit of the City of Louisville, and confer no rights, duties or entitlements to any <br />bidders or proposers. <br />SECTION I  DEFINITIONS <br />Capital Asset - Property, including durable goods, equipment, buildings, installa <br />and land valued at $5,000 or more, and having a useful life greater than one year. <br />Capital Improvement Projects  Any project to build, alter, repair, maintain or replace <br />necessary public buildings, streets and alleys, public parks and <br />utilities, sidewalks, highways, parks or public grounds. Capital Improvement Projects are <br />included in the Citys five-year capital improvement plan. <br />Capital Outlay  Expenditures which result in the acquisition of or addition to c <br />assets ($5,000 or more). <br />Competitive Bid Process  Termused to encompass bidding, request for proposals, or <br />request for qualifications when trying to get the best price or , <br />including bidding the project to any and all interested vendors <br />Cost of Operations  Expenditures categorized as wages, benefits, supplies or <br />contractual services; non-capital. <br />Emergency conditions - A situation in which any departmentsoperations may be <br />severely hampered or a situation in which the preservation of li, health, safety or <br />property may be at risk as determined by the Department Director and the City <br />Manager. <br />Encumbrances  An amount of money committed by purchase order but not yet <br />expended for the purchase of a specific good or service. <br />Expenditures  Decreases in net financial resources. Expenditures include curre <br />operating expenses which require the current or future use of ne <br />service, and capital outlays. <br />11 <br />4 <br />