The Director of Administrative Services may approve a proposed contract if:

(1) The potential economic advantage of contracting is not outweighed by the public's interest in having the particular services performed directly by the state agency;

(2) The contract does not adversely affect the state's affirmative action efforts;

(3) The contract will include adequate control mechanisms to insure that the services are provided pursuant to the terms of the contract; and

(4) The private entity is fairly compensating its employees.