HomeMy WebLinkAbout23-004 Approval of an updated Purchasing Policy
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 23-04
APPROVAL OF UPDATED PURCHASING POLICY
Motion By: Braid Second By: Lake
WHEREAS,
WHEREAS,
WHEREAS,
WHEREAS,
Minnesota Statute 471.345 sets forth the law regulating the sale or purchase of
supplies, materials, equipment or the rental thereof, or the construction, alteration,
repair or maintenance of real or personal property in Minnesota Cities; and
the goals of the Purchasing Policy are to ensure all purchases are consistent with
Minnesota statutes and have a public purpose, to establish internal controls, to
maintain the appropriate documentation, to ensure the best value for the public
money, and to assign purchasing responsibility and authority to the level
consistent with good business practice and sound financial management to the
extent possible; and
the City of Prior Lake’s current Purchasing Policy was last revised in 2019. Staff
has reviewed State law and city practices and made updates as detailed in the
revised policy; and
the Council finds the revised Purchasing Policy, dated January 4, 2023, is
consistent with Minnesota statutes and public purpose requirements, to establish
internal controls, to maintain the appropriate documentation, to ensure the best
value for the public money, and to assign purchasing responsibility and authority
to the level consistent with good business practice and sound financial
management.
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1. The recitals set forth above are incorporated herein.
2. The City of Prior Lake Purchasing Policy, dated January 4, 2023, is hereby approved.
3. The threshold to capitalize an asset is changing from $5,000 to $10,000 effective calendar year
2022.
Passed and adopted by the Prior Lake City Council this 4th day of January 2023.
VOTE Briggs Braid Burkart Churchill Lake
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
______________________________
Jason Wedel, City Manager