4.1.1 Thresholds for Contracts versus Purchase Orders

i. Formal contracts shal be required for transactions in excess of $100,000 including
construction services or installation of fixed Equipment unless previous approval has
been obtained from the Director of the State Buildings Program to use a purchase
ii. Purchases of fixed Equipment that do not require installation services may be
purchased with a purchase order.
iii. A purchase order may be used for construction not exceeding $100,000 if the
Director of State Buildings Program or a delegate thereof approves the purchase
order. Such approval by the Director of State Buildings Program or a delegate shall
require compliance with approved building codes and signify compliance with
bonding requirements in C.R.S. §38-26-106 and §24-105-201.
4.1.2 Modifications to Thresholds

Al dol ar thresholds or amounts contained in this Chapter 4 may be modified, at the request
of the Director of Capital Planning and Construction, at any time that the Director of State
Buildings Programs authorizes or adopts different thresholds or amounts.
4.2.1 The State Capital Construction Fund
This fund was established to provide a source for appropriations to Institutions of Higher
Education to acquire and maintain their physical facilities. The fund has special
requirements that must be followed by the University when it receives appropriations from
the fund.
All State Capital Construction Projects shal be used for their intended purpose and in
compliance with C.R.S. §24-75-301, et seq. The University shal not use the State Capital
Construction Fund to pay or reimburse University Employees for construction management,
administrative activities, direct labor performed, or any other expense outside the scope of
the State Capital Construction Project or State Controlled Maintenance Project.
Unless otherwise stated by the General Assembly as part of the capital appropriation, this
does not apply to projects that are to be constructed solely from cash funds held by the
University or federal funds made available for the project or a combination of cash funds and
federal funds.
Contracts funded by the State Capital Construction Fund shal be executed and the funds
encumbered within the time limits established by C.R.S. §24-30-1404. If the University
determines that the deadlines imposed by the statute cannot be met, the University may

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request the Capital Development Committee to recommend to the State Controller that the
deadline be waived.
4.2.2 State Capital Construction Project Retainage

The University shall withhold retainage for all State Capital Construction Projects and State
Controlled Maintenance Projects where the total amount of the contract exceeds the limit
established by C.R.S. §24-91-103. The retainage shall be in the form of monies withheld
from the contractor or in any other form authorized by statute and acceptable to the
The University shal release the full amount of the retainage only when the contract has
been satisfactorily completed and accepted, and there has been publication of the "Notice of
Final Settlement" in accordance with C.R.S.§38-26-107, and there are no material
outstanding claims against the project. If outstanding claims exist, retainage shal be held in
an amount equal to 125% of outstanding claims until all such claims are satisfied.

C.R.S. §24-30-1301 (State Buildings Division)
C.R.S. §24-30-1404 (Contracts)
C.R.S. §24-75-301-306 (State Capital Construction Fund)
C.R.S. §24-91-101-110 (Construction Contracts with Public Entities)
C.R.S. §24-92-101-114 (Construction Bidding for Public Projects)
C.R.S. §38-26-106 (Contractor Bonds)
C.R.S. §38-26-107 (Supplier Claims)

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