Contract Approval Changes effective July 2017

Contract Approval Changes effective July 2017

We’ve updated the contract review and approval requirements in Fiscal Procedures effective July 1, 2017.

University Controller review and approval: dollar threshold changed

  • Effective 7/1/17, University Controller approval is now required for Expenditure Contracts, Intergovernmental Agreements and Price Agreements greater than $150,000 per year.
  • Previously, this approval was required for contracts greater than $50,000.

Legal review and approval: nature of review changed

  • Also effective 7/1/17, legal review and approval of a reviewing attorney is now requested based on the specifics of the contract as opposed to a dollar threshold.
  • Previously, this approval was required for contracts greater than $150,000.

We’re pleased to announce these new efficiencies

Our stakeholders – including the campus controllers, legal counsel, Procurement Service Center, and Chief Financial Officers – agree that these changes achieve operational efficiencies with minimal impact on risk.

For more information:

See the Contracts section (Chapter 3) of the University of Colorado Fiscal Procedures.

Or email Normandy.Roden@cu.edu.

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