Purchasing Card Policy
This policy updates the University’s previous Purchasing Card policies and procedures.
Overview of the Policy Changes:
• Lowered transaction limit to accommodate changing business needs
• Lowered monthly limit and variable credit limit to eliminate unused credit lines
• Implemented electronic form to simplify the process and allow for electronic signatures; added Business Officer as approver
• Established audit responsibility with Card Program Administrator
• Authorize Use revised to emphasize the role of the Purchasing Card Program is not to replace the Requisition and Purchase Order process
• Added language regarding marketplace usage
• Included specific examples of acceptable, small dollar purchases for illustration
• Existing list of Unauthorized Use was revised
• Roles and Responsibilities were revised to set clear expectations regarding cardholders' responsibilities
• Added language to clarify impact of delegation
• Simplified language to set clear expectations for approvers
• Added language regarding timeliness of reviewing transactions
• Technology has been added to the list of unauthorized use as these suppliers (and transactions) will be processed through the marketplace
• Simplified language to define shared governance of audit responsibilities
• Revised language to remove fraud procedures and focus on expectations and responsibilities
• Revised document retention language to recognize Ignite Expenses as system of record and document repository, eliminating the need to maintain physical files
• Simplified language and provided distinction between different scenarios: Leave of Absence, Department Transfer, Employee Termination
• Provided more clarity regarding examples of misuse violations, load of card privileges and associated repercussions
• Added additional detail defining split transactions
• Added language regarding personal liability for unauthorized charges
• Added section regarding gifts, awards, prizes, and donation to unify guidance in those areas
• Added language regarding Ignite Expenses being the system of record for recording transactions
• Added Activity Matrix to depict responsibilities of departmental employees within the processes
• Created full listing of prohibited Merchant Categories which will be systematically disallowed