Documentation required is dependant on the acquisition method. At a minimum, all vendor quotations solicited directly by the PI must be attached to the Purchasing Requisition (at least three (3) written quotations must be included). Strategic Procurement Services will issue the Purchase Order to the selected vendor. Where Strategic Procurement Services has completed a competitive bid, the PI is required to complete the Purchasing Requisition with reference to the competitive bid number as all relevant documents are kept by Strategic Procurement Services.
Institutions must be prepared to provide the following required supporting documentation for expenditures and contributions related to each eligible item reported in a CFI-funded project. Original documentation must be retained on file at the institution for audit purposes, and provided to the CFI upon request.
- Purchasing requisition;
- All bids received following a competitive bidding process;
- If a competitive bidding process was not undertaken, documentation justifying the exception. The exception must be permitted under the institution’s purchasing policy;
- Summary form documenting bids received, evaluation, and rationale for selection of the successful supplier or service provider;
- Purchase order or contract;
- Receiving document or statement of work;
- Proof of payment (i.e. cancelled cheque)
All documentation in support of expenditures from CFI funds must be retained for audit purposes. At a minimum, the PI is required to retain copies of quotations, invoices and packing slips for purchases the PI has made directly and under the $10,000 threshold. These documents must be kept for a minimum of six (6) years plus the current year (Canada Revenue Agency requirement).
Strategic Procurement Services will retain a copy of all the relevant documents for purchases in excess of $50,000 and General Accounting will retain a copy of the invoice and proof of payment for a minimum of six (6) years plus the current year. Strategic Procurement Services will also retain copies of all competitive bid submissions for an additional year post the conclusion of a project, and longer if any extended warranties apply.