Due to a high volume of customer engagements all inquires are being handled via email. Please send your inquiry to email@example.com. If you have an urgent matter, add the word "Urgent" to the email subject line.
Effective January 1, 2023, the new threshold for a solicitation issued by the Procurement Service Center (PSC) will be $100,000 for both goods and services. As we move into a more stable supply chain, we are pleased to announce this permanent change to the procurement thresholds. As part of this change, and in accordance with Uniform Grant Guidance (2 CFR 200), all procurements above $10,000 must be “reasonable based on research, experience, purchase history or other information and documents it files accordingly.”
This is an informational message to the CU Community. Effective January 1, 2023, the PSC will release updated PO terms and conditions (Ts & Cs) to reduce the number of purchases that require a full contract. Based on the experience of peer institutions, CU anticipates that the new Ts & Cs will reduce the number of contracts by 20%, which will result in improved requisition processing time.
The Procurement Service Center (PSC) and Office of University Controller (OUC) have recently researched and clarified aspects of the current Business Expense Reimbursement policy. The result is the revised Finance Procedural Statement Business Expense Substantiation & Tax Implications, which is planned to take effect on January 1, 2023.
The largest paper mill who is the primary manufacturer of recycled paper had a fire recently that has shut down production for recycled fiber, raw material, to all paper mills, all brands in North America. The Universities strategic supplier Staples, will be providing a suggested alternative item which you will notice when shopping for recycled paper to help bridge the gap while recycled options are unavailable.
The University of Colorado has developed policies related to the processing of commercial credit card transactions (Procurement Card, Travel Card, Airfare Card), cash advances, and employee reimbursements that meet the IRS definition of an accountable plan.
With the end of the calendar year fast approaching, and all four campuses and the System office closing from December 26th through January 2nd, we wanted to provide critical dates on submitting requisitions, payment processing and other requests.
Due to ongoing supply chain disruptions, escalating prices, and the labor market affecting both suppliers and the University of Colorado, the Procurement Service Center is extending the January 21, 2022 Procurement Declaration through December 31, 2022.