Ark. Code Ann. § 6-21-304 requires the Commissioner of Elementary and Secondary Education to adjust the purchasing threshold for bidding amounts under Ark. Code Ann. § 6-21-304(a)(1)(A) by the percentage change in the Consumer Price Index (CPI) for All Urban Consumers or its successor.  This adjustment shall be done by July 1 of each year. 

The increase in the CPI for this category during the 12-month period ending April 2023 was 7.16%.  Statute allows the final amount as adjusted under subdivision (a)(1)(B)(i) to be rounded up to the nearest one hundred dollars. Therefore, the purchasing threshold for bidding under Ark. Code Ann. § 6-21-304 will increase from $23,100 to $24,800 for the 2023-2024 school year.

 See below for calculation:

While the legislation does not provide a specific source for the CPI data, the Arkansas Department of Education (ADE) recognizes the Bureau of Labor Statistics as a valid source of CPI data. 

The CPI data used for the percentage increase calculation is found at https://data.bls.gov/cgi-bin/surveymost?bls.

Under “Price Indexes”, choose CPI for All Urban Consumers (CPI-U) 1982-84=100 – CUUR0000SA0.  Scroll down to the bottom of the page and click on “Retrieve Data”.

Please note that, if your district sets a lower threshold in policy, you must adhere to the district’s more restrictive policy.  Additionally, for purchases using federal funds, you must consult federal procurement law and use the more restrictive threshold.