Richmond 2023 Procurement Report

The City of Richmond's Finance Department has released its 2023 Annual Procurement Report, providing insights into the city's procurement activities and metrics for the previous year.

• The total value of contracts awarded over $75,000 was $61,445,633, with an additional $5,073,247 in contracts under $75,000.
• The city issued a total of 113 contracts over $75,000 and $73,275,240 in total Purchase Orders.
• The city's Purchasing Card Expenditures amounted to $7,000,304, with a rebate of approximately $58,000.

• Approximately $61 million in contracts over $75,000 were awarded through various procurement methodologies, including architectural, consulting, and construction contracts.
• Of the $61,445,633 in contracts over $75,000, $9,069,974.40 were sole or single source, primarily due to compatibility with existing city infrastructure and systems.
• Optional heading: Circular Procurement The city's Purchasing Department promotes circular procurement opportunities by including circular economy criteria in bid specifications and the decision-making process.

• The city's Purchasing Card Program enabled 19,563 transactions totaling $7,000,304.12 in 2023.