Commercial Card
The University uses procurement cards issued by US Bank. Cardholders are required to take online training, follow purchasing rules and adhere to the procurement card handbook. The single purchase limit is $5,000. The cardholder is ultimately responsible for following the rules and this includes ensuring all appropriate documentation is maintained.
Procurement card transactions are processed in the Concur Travel and Expense System. Cardholders or their expense delegates prepare reports monthly to ensure expenses are recorded within 30 days.
Cardholders must certify and submit their own reports. An Approving Official (AO) is assigned to each cardholder. AOs are also required to take online training. AOs review transactions, request additional justification when warranted, and approve their cardholder reports.
All card holders must be familiar with prohibited transactions and sensitive expenses​.
Please note students and temporary personnel will not be approved to be authorized cardholders.
The role of the Procurement Service Center (PSC) is to support all CU campuses to assist customers with spend management, procure-to-pay, and travel management responsibilities.​
Important Procedures, Rules, and Resources
It is important to remember that subordinates cannot be an approving official for their supervisor's cardholder expenses.
Meals with staff/employees only are not allowed unless it is an official function; departments may have a staff appreciation meal outside of the holiday season.
It is important to remember we are tax exempt, and you must request taxes be removed or refunded.
A tip cannot exceed 20% of actual cost of services or goods.
A proof of payment and a line item receipt are both required, three or more failures to present this documentation will result in a 50 point violation.
Shared Service requires receipts for all purchases regardless of the dollar amount.