The University of Colorado Procurement Card is administered by the Commercial Card Program, a unit of the Procurement Service Center (PSC). The PSC is part of University of Colorado System Administration and provides Purchasing and Payables Services for the University's campuses (Boulder, Colorado Springs, and Denver) and System Administration.
The Procurement Card is a Visa, issued to a specific individual, through US Bank. The card is used by authorized University of Colorado (CU) staff, faculty, and students, and by designated affiliate fiscal staff to purchase small-dollar items for university use. The single purchase limit is $5,000 for general cardholder use. Exceptions up to $10,000 single purchase limit may be granted on a limited basis with approval from the campus controller. The authorized cardholder is able to purchase directly on behalf of CU, thereby allowing tax-exempt use. Transactions are paid by CU to the bank.
The Commercial Card Program provides support to campus departments participating in the Commercial Card Program through:
Dissemination and interpretation of applicable university and state policies;
Taking appropriate action for procurement card violations and application of consistent consequences for such violations;
Assistance in the establishment and maintenance of the departmental procurement card program; and,
Provision of management information regarding the program.
Who May Participate in the Commercial Card Program?
Employees and non-employees may participate in the program. If the applicant (Cardholder Approving Official or Expense System Delegate) is not an employee, the sponsoring department must first obtain a POI #, Type 15 (Security Access), from the HCM System for that individual.