Compliance Corner: The right codes for food & alcohol at official functions
Got a question about expense codes? You're not alone! The Fiscal Compliance team is dedicated to providing clear, consistent guidance. To promote transparency and uniform practices across campus, we're taking some common inquiries and sharing the answers with everyone.Ìý
ÌýÌýQuestion 1: What expense code should I use for food purchases associated with an official function with alcohol?Ìý
We advise campus to use separate codes for food and alcohol to ensure accuracy and compliance.
- For expense type: Alcohol, use expense code 550102.
- For expense type: Food, use expense code 550100.
Why the split?
The main reason is compliance and accurate reporting.
- Policy Requirement: Expense code 550102 is required by policy for alcohol and facilitates the heightened review required for all alcohol purchases, such as ensuring alcohol is recorded in the correct fund type. (See: )
- Clear Data: Using a separate code for food ensures our alcohol expense reports are accurate and not inflated by food costs.
For more information, please review our previous articles: Mastering the art of completing your CU official function form and An important reminder about official functions with alcohol expenses.
ÌýÌýQuestion 2: Do I have to itemize food purchases in Concur if I use expense code 550100 instead of 550102?Ìý
No. Your documentation requirements under policy remain the same, regardless of which expense code you use.
Based on feedback from campus users, the System’s team recently introduced a new Concur itemization feature that copies information from the parent expense to help save you time and effort. However, this new feature does not change what you need to document to meet policy requirements.
Need Step-by-Step Guidance? Review these resources:
If you have questions about fiscal policies and procedures, please feel free to contact fiscalcompliance@colorado.edu. For questions related to alcohol approvals, please contact campus.accounting@colorado.edu.