(a) The Board will complete a risk assessment to identify
procurement contracts for goods or services from a private vendor
that require enhanced contract or performance monitoring.
(b) For all contracts with a value greater than $25,000,
the finance manager will complete a risk assessment to evaluate whether
enhanced contract or performance monitoring may be required. For contracts
of a lesser value, the finance manager may complete a risk assessment
to evaluate whether enhanced contract or performance monitoring is
indicated. The risk assessment may consider the following factors:
(1) total cost of the contract, including contract
renewals;
(2) risk of loss to the agency under the contract;
(3) risk of fraud, waste or abuse;
(4) scope of the goods or services provided;
(5) availability of agency resources;
(6) complexity of the contract;
(7) business process impact of failure or delay;
(8) vendor past performance; and
(9) whether the vendor is a foreign or domestic person
or entity.
(c) Contracts identified for enhanced contract and/or
performance monitoring will be reported to the Board at the first
regular Board meeting after the contract is executed. The report shall
include:
(1) the basis for the determination that enhanced contract
or performance monitoring is appropriate;
(2) any serious issues or risks identified with the
contract, if applicable; and
(3) the plan for carrying out the enhanced contract
or performance monitoring.
(d) For any contract subject to enhanced contract or
performance monitoring, the finance manager shall provide the Board
with progress reports, as directed by the Board.
(e) This section does not apply to a memorandum of
understanding, interagency contract, interlocal agreement, or contract
for which there is not a cost.
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