Procurement Services provides integrated solutions to enhance the University's Procure-to-Pay experience. This includes establishing contracts, creating purchase orders and administering the credit card program, travel services and other specialized campus programs.
In the Spotlight
The University of Chicago’s current fiscal year (FY21) will end on Wednesday, June 30, 2021. Finance & Administration is providing the following guidance to encourage accurate accounting and transaction processing during the year-end close. For any questions, please contact the Shared Services Office at 773.702.5800 or online at services.uchicago.edu. Click here to obtain a copy of the year-end closing dates.
As University leadership continues to focus on the long-term financial health of the University and respond to the immediate fiscal needs resulting from the COVID-19 pandemic, I am writing to share updates on cost-saving best practices and staff policies related to travel and purchases. Additional information will be provided on our year-end 2020 financials and trajectory for the current fiscal year in the coming weeks.
The financial challenges created by the COVID-19 pandemic have been significant. While travel and entertainment expenses remain very limited in the current environment, additional non-personnel cost-savings steps are required. After thorough review and deliberation, the following cost-saving measures will take effect immediately for staff. Please refer to the University’s updated Policy 1202: Business Expense Management page and corresponding FAQs for more details. Unit leaders may implement similar guidelines for their entire unit (i.e., applicable to staff, faculty, and others) as required for budgetary purposes. Read More...
Procurement: Please click here for a link to the most often asked questions and answers related to general procurement. Click here for a link to the most often asked question and answers related to procurement of products for resumption of campus operations.
The University’s implementation of the Uniform Guidance Procurement Standards became effective July 1, 2018 in conjunction with updated federal government regulations.
The federal government has recently issued clarifying guidance regarding formal competition thresholds. Based on these clarifications, the University is able to adopt a new $250,000 threshold for the requirement of Formal Competition (an increase from the current $150,000). The new limits governing our procurement processes (and associated documentation requirements) are highlighted in the table below.
Beginning on October 1, 2020 the following changes will be made to our procurement thresholds:
|Previous||New||Procurement Method||Documentation Requirements|
|$0 - $10k||$0 - $10k||Micro-Purchase||Documentation of price|
|$10k-$150k||$10k-$250k||Informal Procurement||Documentation of competition, price reasonability or sole source justification|
|>$150k||>$250k||Formal Procurement||Competitive proposals (or sole source justification) – proactively engage Procurement Services|
View the news archive for past announcements.