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12 HB Fiscal Polices Et Procedures <br /> 'Section 3: Purchasing <br /> A. Overview <br /> HB makes purchases are made in order to support its day-to-day activities and services. An <br /> appropriate segregation of duties, as included in the procedures, ensures checks and balances in <br /> the purchasing process. The following applies to all purchases, including both goods and services. <br /> B. Policies Ft Controls <br /> 1. Report and review all potential conflicts of interest. <br /> 2. Purchase goods and services using the best combination of quality, service, availability, and <br /> price. <br /> 3. Only make and receive authorized purchase commitments. <br /> 4. Obtain and submit proper documentation for all purchases. <br /> 5. Only authorized personnel are issued credit cards; they must agree to the credit card <br /> policies. <br /> b. Authenticate every consulting engagement with an agreement and appropriate <br /> documentation of services prior to payment. <br /> 7. Review and document each consulting arrangement to ensure that the consultant qualifies <br /> for consultant status and not for classification as an employee. <br /> 8. Review all agreements on a yearly basis to make sure they remain current. Periodically <br /> review the ledger and check against a list of agreements to make sure there are <br /> appropriate agreements for all consulting engagements. <br /> C. Process Description <br /> Annual <br /> Conflict of Interest <br /> Staff with purchasing responsibilities, management, and members of the Board of Directors may <br /> not participate in self-interested or related party transactions. Each such individual authorized to <br /> obligate funds must sign a Conflict of Interest Statement on an annual basis to confirm adherence <br /> to the policy and disclose any actual or potential self-interested or related party transactions in <br /> writing. <br /> Pre-Purchase <br /> 0 Where we spend our money matters. Vendor selection is a key area in which <br /> nonprofits can express their values and serve their mission. During the vendor <br /> selection process, many nonprofits consider bids from multiple companies or <br /> partners, evaluating the options on price, speed, or product quality. 'What would <br /> happen if you expanded this evaluation to include metrics like footprint <br /> (international corporations vs. local shops), ownership (BIPOC or LGBTQ+ -owned or -led <br /> companies), and other areas of mission alignment? <br />