CAM Purchasing Guidelines
Ensure smooth purchasing processes by completing Funding Request Forms promptly for vendor agreements, goods, and services. Guidelines include detailed descriptions, purposes, costs, and vendor information. Submit required documentation, follow invoice guidelines, and utilize Marketplace for vendor registration.
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Presentation Transcript
CAM PURCHASING TRAINING
Before making a purchase or any sort of agreement with a vendor (including guest lecturers and musicians, independent contractors), you must complete a Funding Request Form. This form should be completed as soon as you become aware of the need to make the purchase/hire the guest. Earlier is better!
Purchasing Goods All Funding Request Forms must include: Detailed item description What are you purchasing? Be specific. Purpose of proposed purchase Why is it necessary? How do CAM students / the college benefit? Be specific. Item cost Vendor Attach: Quote from vendor or detailed printout of product information Plan in advance and complete the form early- the purchasing process is not automatic.
Purchasing Services Funding Request Form must include: Description of services (What are you purchasing? Be specific.) Purpose of expense (Why is it necessary? Be specific.) Cost and date(s) of service Vendor name and email Vendor type (ask the vendor, please don t assume) University of Colorado Employee (Additional Pay form processed through HR) Individual/Sole Proprietor (ATTACH: Completed SOW- the responsible faculty member should complete this form route to your PA for signature- submit invoice to PA immediately after work is complete) Company/Organization (A purchase order will be set up- submit invoice to PA immediately work is complete) Foreign Individual (ATTACH: Completed SOW- the responsible faculty member should complete this form route to your PA for signature - International Tax Specialist will also review for an addt l signature- submit invoice to PA immediately after work is complete) Foreign Company/Organization (A purchase order will be set up after review by an International Tax Specialist- submit invoice to PA immediately after work is complete) Before work can take place, your form MUST be approved! Complete the form early- the process is not automatic and usually takes several days to a week.
Marketplace All new vendors must register in Marketplace and be approved prior to setting up any requistions Your role is to provide an accurate Vendor Name, Vendor Email, and Vendor Type on the Funding Request Form Your department s purchasing agent will facilitate the registration process from there
Invoice guidelines Invoice must include: vendor name and remittance address; name of University/University organizational unit receiving the goods or services; date these goods or services were provided; description of item(s) or services (for goods, include quantity and unit cost); an invoice number; and, total amount owed to the vendor. This documentation is generally prepared by the vendor. Submit to purchasing agent immediately upon completion of services/receipt of goods.
Payment Terms For independent contractors, submit the invoice to PA after work is complete. They will create a Payment Voucher in Marketplace, attaching the Funding Request form, SOW, and invoice. Once the voucher is approved by the Procurement Service Center and the invoice entered by Accounts Payable, a check will print and mail out. Typically, this only takes a few days. For companies/organizations, a purchase order should be created and funds encumbered. Once services are complete and your PA submits the invoice to A/P, they will enter it and set payment terms at net 30. This means that the vendor will receive payment within 30 days of the invoice date (payment terms set by vendor do not matter, actual date of service does not matter). A check typically mails out 3 days prior to day 30.
Scope of Work (SOW) Specific to independent contractors. All costs must be fully identified on the SOW form (no part of the expense can be put on a P-card). Independent contractors are responsible for their own travel expenses. Complete forms early! The form must be signed by Employee Services PRIOR to any work taking place. Please make sure this information is all correct before submission. Do not assume information!
Test of Propriety Is the transaction: For official university business? In the best interest of the University? The most effective way to accomplish official university business? In compliance with applicable policies, laws, regulations and rules; and contracts, grants, and donor restrictions including the required approvals and authorizations by the appropriate fiscal role? Within the available resources of the responsibility unit, taking into account all outstanding commitments and encumbrances? Directly beneficial to the responsibility unit where it is being charged? Reasonable? In compliance with university conflict of interest provisions?
Other Forms CAM Official Function Form Must be completed prior to any food or beverages being purchased, regardless of the amount or funding source CU Official Function Form Must be completed if the total cost exceeds $500 Honoraria When is a payment considered an honorarium?
Supporting Documentation For everything we purchase, we need to provide adequate backup documentation. An outside auditor completely unfamiliar with CAM must be able to understand what we purchased and WHY. The Funding Request Form, if completed properly, satisfies this requirement and should be attached to the Marketplace requisition or Concur expense report. If you received a CAM Faculty Development Grant, your signed grant proposal will work in place of a Funding Request Form.
Questions??? Anthony Wilson anthony.r2.wilson@ucdenver.edu Karen Ludington karen.Ludington@ucdenver.edu Finance & Procurement Help Desk FinProHelp@cu.edu 303-837-2161
