Some of the most frequently observed violations of Procurement Cardholders are outlined here along with information on how to prevent these issues. Procurement Cardholders are encouraged to regularly review the Procurement Card Handbook as well as relevant university policies to ensure all purchases comply with the applicable requirements.
Effective February 1, additional campus-level approval will be required on Procurement Card applications and/or critical account updates (limit changes, org updates, etc.) submitted by affiliate fiscal staff or any other non-employee affiliate/person of interest (POI).
A required course to gain access to CU Marketplace and all CU commercial card requests in Skillsoft Percipio has been updated. CU: Procurement Fundamentals will replace CU: Procurement – Purchasing and Contract Management beginning Monday, 9/23/24, when the old course will be retired.
Our commercial card provider, US Bank, has changed its procedure for expedited card requests. Effective immediately, all newly issued and replacement cards will incur a $20 fee for rush delivery. The fee will be charged to the card account associated with the request, and it will be the responsibility of the cardholder and/or their department to reconcile this expense. The PSC does not charge any fees for rush processing.
With the revised Finance Procedural Statement Business Expense Substantiation & Tax Implications, effective January 1, 2023, requirements for timely substantiation/submission of business expenses apply to commercial credit card transactions – including Procurement Card – in addition to employee reimbursements.
