Purchasing Services, Accounts Payable List Changes Karen M. Harthorn, Procurement Services September 14, 2012 Purchasing Services and Accounts Payable announce the following changes to purchasing and payables guidance effective immediately. UST Wells Fargo cardholders no longer will be required to submit receipts under $75 to Accounts Payable. Receipts of $75 and greater and all hotel receipts are still required, per IRS guidance, to be submitted with the monthly online reconciliation. Accounts Payable and departmental approvers will still review these transactions for reasonability. Departments may continue to require under $75 receipt submission to departmental approvers. UST Wells Fargo cardholders also should submit all out-of-pocket expenses through the new “out-of-pocket” functionality in the Wells Fargo system on a monthly basis. This will allow cardholders to complete their entire expense reconciliation in one system. More details will be sent to cardholders regarding the use of this functionality. Out-of-pocket expenses require receipts, with the exception of cash tips and mileage. The bid threshold is being raised to $5,000 from the $3,000 threshold that has been in place since July 2010. All goods and services $5,000 and greater still require bidding unless the purchase has been granted an exception from the AVP for Procurement Services. Wells Fargo receipts under $75 account for only .5 percent of total spending, and fully 25 percent of total AP transactions and bids between $3,000 and $5,000 have not generated material savings for UST. We hope these two changes will help to minimize work while maximizing savings for UST. We continue to look for ways to be more efficient and sustainable in our practices. For more information email the Purchasing Department.