There are new EDGAR requirements pertaining to utilizing purchasing cooperative contracts when spending federal dollars. Many of the TIPS contracts are EDGAR compliant. To determine if the vendor contract is compliant do the following:
1) Go to the vendor profile.
2) Click on "Contacts"
3) Look for "Yes" or "No" in the "EDGAR Compliance" section.
The TIPS cooperative has followed the most restrictive method of procurement required under EDGAR. All of our contracts are let using the most restrictive methods required under state of federal regulation, the Request for Proposal.
However, when the TIPS member makes a specific purchase of $150,000 or greater and EDGAR compliant funds are used, it is up to the individual district to perform their cost analysis prior to the purchase and confirming the actual price paid analysis after the purchase to confirm it was essentially consistent with the original cost analysis and not significantly more. The cost/price analysis is based on the specific individual purchase by that entity and cannot be done by the cooperative on the multiple award and discount off catalog or fixed price contracts that make up the bulk of cooperative contracts because those contracts are let with a broad range of possible quantities purchased by members. Prices members pay under the contracts may be lower than the actual contract maximum price or minimum discount offered depending on the quantities purchased or other specifics to the individual purchase. The member should never pay more than the contracted price.
As an option to the member, for additional competition, the member may, but is not required to, solicit quotes from multiple awarded vendors when there are several that sell the same or similar goods or services.