OMB Memo Officially Acknowledges Micro-purchase Threshold Increase

The Office of Management and Budget (OMB) has issued guidance addressed to federal awarding agencies that raised the threshold for micro-purchases under federal financial assistance awards from $3,500 to $10,000 and increased the threshold for simplified acquisitions from $100,000 to $250,000.

OMB memorandum M-18-18: Implementing Statutory Changes to the Micro-Purchase and the Simplified Acquisition Thresholds for Financial Assistance, signed by Tim Soltis, deputy controller of the OMB Office of Federal Financial Management, implemented statutory changes under the National Defense Authorization Act (NDAA) of 2017 (Pub. L. 114-328) and the NDAA of 2018 (Pub. L. 115-91)

- Thompson Federal Grants News for Colleges and Universities