LARS has updated its procurement policies and procedures to reflect current 2 CFR Part 200 requirements, including the following: • The updated policy defines micro-purchase thresholds in accordance with current Uniform Guidance standards and requires that micro-purchases be distributed equitably among qualified vendors to the extent practicable • A simple price reasonableness documentation requirement has been added for micro-purchases, requiring staff to note the basis for determining a cost is reasonable (e.g., comparison to a prior invoice, market price check, or vendor quote) • A SAM.gov vendor verification step has been incorporated into the procurement process. Staff are required to check SAM.gov prior to making a purchase from a new vendor and to document the result. Verification results are retained in the procurement file