VCU Procurement Services

From new faces to fond farewells, here’s what’s been happening recently across Finance and Administration teams!

Vendors sometimes contact VCU about payments that don’t match their invoices and one reason this may happen is because of a partial or full payment interception.  Payment interceptions usually happen as a result of the  Commonwealth Debt Set-Off (CDS) Program, a legally mandated program that recovers outstanding debts that vendors owe to state (CDS) and federal Treasury […]

To celebrate another successful fiscal year, the VCU Division of Finance is hosting an Ice Cream Social today — Thursday, July 24, from 1–3 p.m. at Rodney’s (Shafer Court Dining Center, first floor). If you RSVP’d, we hope to see you there for some sweet treats and a chance to unwind with colleagues. It’s a […]

As of July 1, 2025, VCU’s capitalization threshold for equipment purchases has officially increased from $5,000 to $10,000 per item. What This Means: Quick Coding Reminders: 🧾 Need more detail?Full guidance — including HEETF rules, software, training, and split coding — is available from the Controller’s Office. 👉 View the full guidance and policy here […]

As of July 1, we’ve officially turned the page and stepped into a brand-new fiscal and we’re excited for what’s ahead! ✨ A Fresh Start The beginning of a new fiscal year is more than just a date on the calendar — it’s a chance to: 📌 Looking Ahead: Need Support? As you begin planning for […]

As we approach the close of the 2025 fiscal year, VCU Procurement Services would like to remind departments of the key deadlines to ensure timely processing of purchases, payments, and other financial transactions. 🔔 Why This Matters Meeting these deadlines is essential to ensure that all transactions are recorded in the correct fiscal year. Delays […]

As we welcome 2025, we look forward to another year of growth, innovation, and collaboration. Thank you for your continued dedication and hard work. Let’s make this year our best one yet! Wishing you all a prosperous and joyful New Year! 🌟

Great news for all business travelers! Starting January 1, 2025, the IRS has increased the standard mileage rate for business use to 70 cents per mile, up from 67 cents in 2024. This adjustment reflects the rising costs of operating a vehicle and ensures that employees are fairly compensated for their travel expenses. Happy (business) […]