Financial Equilibrium Plan approves recommendations

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Loyola University’s Presidential Advisory Group to Develop a Long-Term Financial Equilibrium Plan recently announced that it approved recommendations made by the Purchasing Task Force in regard to University Finances.

Recommendations include requiring written bids for purchases over $25,000, negotiating contracts with preferred vendors in high purchase areas, auditing cell phone use for those who are eligible for university support on cell phones and better solutions for on-campus printing.

Other recommendations include no longer reimbursing people for purchases with private funds for goods and services, engaging in cooperative purchasing arrangements with other universities to cut costs and increasing the ease and efficiency of the purchasing department by becoming paperless and improving its website.

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