|Document Title||Procurement Card Guidelines|
|Policy Number||Purchasing Department Policy No. 605|
ORIGINAL: January 2003
The purpose of this policy is to define a procedure for the use of a procurement card.
This program was designed to empower the cardholder to purchase the products that are needed with as little effort as possible. The process of using purchase orders is expensive and cumbersome. Studies have shown that a purchase order costs approximately $110 each to process from requisition to
The procurement card is a credit card. Although the cardholder’s name appears on the card, the charges are paid by Fredonia. This card is a privilege granted to the cardholder by Fredonia. It is expected that the cardholder will follow the guidelines stipulated through the cardholder manual.
Prior to receiving a procurement card, the employee, along with their supervisor, are required to attend a training program.
Starting July 1, 2011, it is mandatory for all purchases under $1000 to be placed using a procurement card. When a vendor does not accept a procurement card, the department may submit a requisition to the Purchasing Department with written justification.
WHO SHOULD HAVE A PROCUREMENT CARD
PURCHASING WITH THE CARD
Payment or Account Reconciliation
QUESTIONED ITEMS & RETURNS
Sales Tax - The University is tax exempt. It is the cardholder’s responsibility to insure that taxes are not charged on their purchase. If a charge for sales tax appears on the statement, the cardholder should contact the supplier directly to arrange to have this charge reversed and fill out the appropriate documentation.
Returns and Credits - All credits and returns are the responsibility of the cardholder and should be documented. To make a return, contact the supplier directly to determine the proper return procedures. Any credits issued will appear on the present or a subsequent statement.
Items Not Received - If a charge appears on the statement for an item ordered but not received, contact the supplier to resolve the matter. Suppliers should not submit charges until goods have been shipped.
Please keep in mind, with the convenience of the Procurement Card comes responsibility, not just for ordering and reconciliation but fiscal responsibility.
EXAMPLES OF AUTHORIZED PURCHASES (up to $2500):