(1) The State Procurement Director shall compile a monthly report of all executed contracts for services that have a total initial contract amount or a total projected contract amount, including any amendments or possible extensions, of at least twenty-five thousand dollars ($25,000) but less than an annual contract amount of fifty thousand dollars ($50,000) in any one (1) contract year or a total projected contract amount, including any amendments or possible extensions, of three hundred fifty thousand dollars ($350,000).
(2) A contract that is procured by a state agency that has a state agency procurement official or procurement authority under a delegation order is subject to the reporting requirements under this section.
(3) The State Procurement Director shall adopt rules to: Prescribe a cover sheet for the report required under this section that sorts and identifies contracts within the report that may be candidates for review;
(4) Create instructions for completing the cover sheet prescribed under subdivision (c)(1) of this section; and
(5) Provide for the identification of any contracts included in the report that may need to be reviewed under § 19-11-265.
(6) It is a violation of state procurement laws, Arkansas Code Title 19, Chapter 11, for a state agency official to procure services in an incremental or split purchase arrangement to avoid the reporting requirements of this section.