Procurement Card Policy 2017 Presented by Office of Purchasing

Procurement Card Policy What’s New P-Card Audits P-Card Violations P-Card Purchases on Grants Website – P-Card Forms

What’s New Capital Equipment Budget check for Available Funds Do NOT use your P-Card for any Capital Purchases. Budget check for Available Funds Budget will be checked prior to approving a P-Card application or a P-Card increase Approvals The Associate VP of Financial Services will provide final approval for issuance of a P-Card Monthly spending limits and increases are also set by the Associate VP of Financial Services Please be sure to use the updated forms on our website and send completed forms to the Purchasing Dept. for final approval http://www.fit.edu/purchasing-ap/ 

What’s New (Cont’d) Amazon Business Account Administrative Assistant All Amazon P-Card purchases must be made through the FIT Amazon Business Account to avoid tax and for the free 2 day delivery, where applicable. Administrative Assistant Erika Moskowitz is our Office Administrator and can assist you with your P-Card questions and needs Billing Cycle & Reconciling Period Cycle is from the 1st of the month to the end of the month Reconciliation Calendar for the entire fiscal year is posted on our Website for your convenience. P-Card Violations Non-compliant items will be written up as a PCard Violation.

P-Card Audits Detailed Random internal audits of P-Card’s are regularly conducted to support the University’s internal control processes and insure the integrity of the P-Card program. Cardholders should be prepared to provide: Statements with attached receipts in the order they appear on the statement Statements with two original signatures (Cardholder and the Dept. Head) Notes on receipts or an attached explanation Missing Receipt Forms are not a substitute for a receipt, and will not count as such. Simple Audits: The PCard coordinator goes through the transactions in BOA Works and at any time, the P-Card Coordinator may ask the Cardholder to explain certain charges, and provide supporting documents and receipts related to the charges.

Violations of Policy Consequences Resulting from Violations of Policy Violations of rules governing use of the procurement card can be classified as minor or major. The action taken is dependent upon the nature and severity of the violation. Consequences may include additional training, cancellation of cardholder privileges, or disciplinary action up to and including termination of employment. A cardholder will receive up to 3 written P-card violation warnings that will require the cardholder’s signature. The 3rd written violation can result in loss of procurement card privileges. Minor violations include: Allowing someone other than cardholder to use the procurement card Failure to maintain receipts properly Splitting transactions to avoid the $1,499.00 single limit transaction Exceeding budget A major violation indicates a willful intent to disregard the rules. An example would include: Making personal charges using the procurement card

P-Card Purchases for Grants All use of P-Cards for Grant funds is subject to both the P-Card Rules and the Grant Rules You can find the Grant Rules on our Website: Procurement Card - Cardholder PCard Rules Grants Additional http://www.fit.edu/purchasing-ap/ Please refer to OSP for grant-related guidelines and questions http://www.fit.edu/research/osp/

Contracts and Agreements – Employees should not enter into an agreement, license, or contract without obtaining approval from the Department Rules/Other Memberships & Dues / Cell Phone Bills / Gift Cards / Entertainment There are guidelines for these types of purchases and will require prior approval from the current Department Head. These requests should include documentation to support their need. The Associate VP of Financial Services will provide final approval of these P-Card uses.

Website: Procurement Card http://www.fit.edu/purchasing-ap/ · Procurement Card Calendar FY 2018 · Account Information Change Request · Application Form A · BOA Setup Form · Cardholder P-Card Agreement Form · Cardholder P-Card Rules · Cardholder P-Card Rules Grants Additional · Contact Information · Missing Receipt Form · Statement of Disputed Item · Best Practices