The University of Colorado is rebuilding its purchasing system “from the ground up,” according to CU president Hank Brown.
In a meeting with regents today, Brown issued a series of changes in accounting and procurement policies to comply with internal audit recommendations.
The changes come following a highly-publicized audit of the CU Foundation, and in anticipation of an audit report next week concerning the university’s football program.
Among the changes, the university will centralize procurement services under the university controller, implement mandatory training for staff in accounting and purchasing procedures, improve documentation for purchases and clarify school policy on appropriate expenditures.
A CU Systemwide Procurement Task Force will implement changes beginning January 1, including increasing staff for the CU System Procurement Service Center to evaluate transactions before they are processed.
As of January 1, 2005, the the Procurement Service Center will be reorganized and placed under control of the university controller.
By April 1, 2006, the campuses will develop plans to process transactions through centralized finance centers located on each campus, in Boulder, Colorado Springs and Aurora.
As of Sept. 1, 2006, all CU staffers who process accounting transactions including purchases and travel expenditures, will be required to complete a training program about the new rules. New employees won’t have access to the procurement system until they’ve been trained. The training certification will be renewed every three years.
