Page 421 - CityofHasletFY25AnnualBudget

Record Retention

At a minimum, records retained by departments shall include but are not limited to:

A. correspondence, notes and memorandums relating to the procurement, including
Requests for Proposals (RFPs), Invitation for Bids (IFBs), bids and proposals
received, and any other procurement form and notes on verbal transactions and
telephone or facsimile quotations;

B. notes comparing quotations and relating to the basis for the award, including
all negotiations;

C. notes and correspondence relating to the acceptance or rejection of bids,
proposals or quotations;

D. any and all documents reflecting the rationale for the method of procurement,
selection of contract type, contractor selection or rejection, rating criteria,
cost/price analysis forms, cost reasonableness determination and the basis for
contract price;

E. any and all documentation reflecting the basis for sole source procurements,
citing the authorizing authority and the basis for selection of the particular vendor;

F. a copy of public media advertisements;

G. decision letters, notice of award and/or non-selection, fully executed contracts,
including amendments/modifications, contract performance evaluations, progress
reports, signature authorities, cost of pricing data, payment processing
justifications, property and equipment records;

H. copies of required insurance policies;

I. monitoring/audit reports and any other required reports and financial
reconciliations;

J. all contract closeout documents and records; and

K. notes and information regarding inspection of goods/services and any defects or
damages.

Purchasing Policies Page 26

Haslet Adopted Budget FY 2024-2025 419