Purchasing Card
1. PURPOSE
The purpose of the university purchasing card program is to give direction to the administration of purchasing cards and the operational support necessary for use of purchasing cards for the acquisition of approved items and services. The card is designed to eliminate the formal purchase order and invoice processing associated with low-dollar value transactions and to provide flexibility and convenience in making business purchases.
2. POLICY
Purchasing Cards are generally issued to a specific individual, and each cardholder is responsible for a monthly review of each transaction involving his or her card. In addition to the cardholder review, each card has an approver who is responsible to review each transaction, compare it to the detailed receipt provided by the cardholder, and approve or dispute the transaction in accordance with university policies and procedures. All purchasing card transactions require adequate documentation that includes the manual initials or signature of the approver on the receipt/invoice. The usage of the card will be blocked for selected categories of businesses and uses where use of the purchasing card is not authorized.