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Regents Set Purchasing Plan

IOWA CITY, IA (AP) -- Iowa's three public universities are being directed to renegotiate new, master contracts for goods and services as part of a consultant-led effort to cut costs.   

The Iowa Board of Regents voted Wednesday to implement a plan requiring the schools to work together to negotiate "more favorable contracts" in areas such as office supplies, furniture, food, and shipping.   

If that effort is successful, the regents may call on the universities to renegotiate additional contracts in two additional waves over the next two years.   

In all, Deloitte Consulting says the plan could save between $16 million and $40 million if fully implemented.   

Regents acknowledged the new approach may make it more difficult for Iowa companies to win contracts. But they said it was their goal to hold down student costs.

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