CT Board of Regents for Higher Education Approves New Centralized P-Card Policy

The Connecticut Board of Regents for Higher Education, in collaboration with the Connecticut State Colleges and Universities (CSCU) system office, has approved a new system-wide policy for purchasing cards (P-Cards) as part of efforts to increase transparency and accountability and ensure stricter controls.

The new policy, which goes into effect April 1, 2025, establishes clear guidelines for the use of P-Cards and appropriate use of institutional funds. The policy was approved by the Board during its February 27 regular meeting.

“CSCU has been working diligently to strengthen its policies and internal controls. This new centralized P-Card policy establishes clear guidelines for P-Card use, which will increase oversight, accountability, and transparency across the system,” said CSCU Chancellor Terrence Cheng. “Our collective focus has been and remains on supporting our students’ futures by ensuring they receive an affordable, high-quality education in a system that operates with integrity, transparency, and accountability.”

“This new P-Card policy is one step of many that the Board of Regents will implement to strengthen accountability at all levels and rebuild trust in our system. In the coming weeks and months, we will continue to work closely with the Chancellor and the system office on adopting stronger controls and clearer policies, and ensure that faculty, staff, and administrators receive proper training on P-Card use, recordkeeping, and compliance,” said Marty Guay, Chair of the Connecticut Board of Regents for Higher Education.

Key provisions of the new CSCU Purchasing Card Policy include:

• Standardized limits and controls: Legitimate spending limits have been established to govern all P-Card transactions and eliminates unilateral exceptions for exceeding these limits. 
• Prohibited and acceptable purchases: A detailed framework will explicitly outline prohibited P-Card expenditures such as alcohol and entertainment expenses unless they align with the mission of the institution, business meals included. Acceptable purchases including educational supplies and travel expenses must adhere to strict documentation and justification requirements. 
• Digital record-keeping: To address gaps in record-keeping and training, all P-Card transactional data will now be digitized beginning at the end of February 2025. This will ensure accurate tracking and auditing of expenditures. 
• System-wide oversight: With the transition to the new procurement system, the CSCU system will have enhanced system-level insight into all P-Card activity, allowing for increased transparency and real-time audits. 
• Reduction of P-Cards: CSCU is actively working to reduce the number of P-Cards held by individuals across the system to improve oversight. A streamlined approach ensures that only authorized personnel have access to P-Cards with proper checks and balances in place. 
• Audit and compliance structure: The policy mandates regular internal audits at both institutional and system levels. Audit responsibilities are placed on subject matter experts both in finance and compliance, ensuring that financial oversight is conducted rigorously and consistently. 
• External accountability measures: To reinforce compliance, CSCU is placing audit responsibilities in the hands of subject matter experts who specialize in P-Card usage and procurement policies. CSCU has embedded auditors from the Connecticut State Universities and the Auditor of Public Accounts (APA). Additionally, all audit requests will be centralized through CSCU’s compliance officer to streamline the review process and maintain consistent accountability. 

The CSCU system office is also actively working on a new system-wide policy for travel and has established a dedicated Policy Committee tasked with reviewing, revising, recommending, and implementing the Board of Regents’ adopted system-wide policies to ensure consistency and compliance. Additionally, CSCU is working to improve financial reporting and strengthen compliance measures.