Procurement Process Enhancements
Jun 9th, 2020 | Posted In : Approved Suppliers General Operations PCard Policy
Central Procurement Services is pleased to announce a number of enhancements to procurement processes at the University of Toronto. We have raised thresholds and streamlined administrative effort, while at the same time incorporated new procurement legislation and regulation arising from trade agreements.
- New Procurement Policy
Business Board recently approved the revised University Procurement Policy which includes increased dollar thresholds for purchases that are less than $100,000.
For more information, see Procurement Thresholds.
- PCard Program
An increased transaction limit (from $5,000 to $10,000) is available for PCards if requested by Faculties and Divisions, and the process has been improved with refined roles and responsibilities, and steps involved in reconciliation.
For more information, see PCard Administrative Regulations.
- U of T Supplier Network
An expanded U of T Supplier Network, which includes a user-friendly directory to search for Approved Suppliers.
For more information, see U of T Supplier Network.
- Procurement-Related GTFM webpages
Sections of the Guide to Financial Management have been aligned to the new procurement policy dollar thresholds, including a new Procurement Decision-Making Process overview, and a more detailed description of the payment process for Purchase Orders and Contracts. Several pages have been updated, while others are currently under review and further revised pages will be added over time.
For more information, see GTFM Updates.