The following personal and/or professional services contracts shall be excluded from the terms of this article:

1. (1) Contracts for insurance;
2. (2) Contracts let by competitive bid;
3. (3) Contracts entered into by public corporations and authorities;
4. (4) Any contract the total amount of which does not exceed $1,500.00, said total amount to include both compensation and reimbursement of expenses.

(Acts 1988, 1st Sp. Sess., No. 88-856, p. 336, §4.)