April

Hey big spender! Spend a little time learning the new rules

Beginning fiscal year 2018 (July 1, 2017), dollar levels for purchasing documents are increasing. Read about the new amounts.

April 5, 2017

MSU Denver has been working with Auraria Higher Education Center to update the dollar levels for purchasing documents. Starting July 1, 2017 (the start of fiscal year 2018), it’s critical to understand that purchase order and bid thresholds will be increasing to the amounts below:

Purchase Order
Current Level – over $5,000
New Level – over $10,000

BID for Goods
Current Level – over $10,000
New Level – over $25,000

BID for Services
Current Level – over $25,000
New Level – over $50,000

SPO maximum amount
Current Level – over $5,000
New Level – over $10,000

It’s important to note that these limits go into effect for purchases that will be made in fiscal year 2018, regardless of when the purchasing document is prepared. For example, if you create a P.O. today that is for FY18 you will use the new limits; but if you create a P.O. today for a purchase made in FY17 you still need to use the current limits.

There are other changes afoot. Accounting Services will increase the level at which items are capitalized/inventoried. Starting in FY18, only inventory items that cost $10,000 or more will be tagged. Be aware that the inventory list you receive in April will be under the old limits and still must be verified.

If you have any questions or concerns, please don’t hesitate to contact Accounting Services. They are understandably excited to make these updates, believing that this will improve the process and make things easier for you.