Two of these captain`s contracts – handgun contracts – are under investigation by the Iowa Department of Public Safety over internal concerns about the fairness of the Agency`s procurement practices. The State Auditor hit the Department of Administrative Services hard during an audit of master`s contracts in 2011. In accordance with the provisions of The 11th Administrative Code of Iowa 117.14 (2), the Department of Natural Resources (DNR) may obtain services that are valid for the DNR program or that are primarily used by DNR and not by other government departments. If there is a commitment to the cheapest listing and only one of the service providers is a company in Iowa, the Iowa business will have preference over non-government providers. Any external investment manager (including any future vehicle, investment fund and exchange-traded fund) is authorized to conduct investment transactions under the defined investment guidelines, subject to any restrictions set by the Commission. External asset managers exercise the judgment and care of prudent, appreciative and intelligent individuals in accordance with applicable state law. „This did not have proper internal control of the master`s agreement and did not adequately supervise the activity through master`s contracts,“ the accountant wrote. The DAS has put in place service management contracts, but has delegated control of the resulting procurement, which has led to misuse. The Department of Administrative Services is required to obtain the lowest price for items required by many government agencies with tenders.
Think of computers, water bottles and toilet paper. The Commission stresses that maximizing available resources is essential to providing Iowaners with quality public education; cutting-edge research and creative activities to improve quality of life; and the public services needed to stimulate the state economy in the best interests of all Iowans. The Board of Directors invests in real assets to achieve a return above the rate of inflation. Real assets offer diversification because in times of unexpected high inflation, they tend to outperform traditional asset classes such as fixed income and equities. Most real assets are tangible assets with intrinsic value and have the potential to generate returns with some degree of correlation with inflation, allowing them to guarantee inflation.