1. Procurement Card Program

2. This program was established to allow rapid purchases of repetitive or low dollar goods and services while simultaneously reducing paperwork and handling costs associated with these types of purchasing processes.

3.  The Fayetteville State University Procurement Card is a Visa Credit Card issued through Bank of America. The Visa card allows employees to purchase goods and services under the delegated limit directly from vendors.  The card is issued in the university and cardholder’s name. The cardholder is responsible for the security of the card and the transactions.  Activating the card requires a 4 digit PIN which is the last 4 digits of your Banner ID#. You may activate your card by calling the customer service number located on the back of your card.  Your Banner ID# last four will be the security code Bank of America will ask for if you need information on your card.

4. How the Program Works _______________________________  Cardholder makes purchase(s)  Cardholder review charges and forwards to Reconciler the original receipts and a signed bank statement.  Reconciler review charges, assigns appropriate fund and account numbers  Department head review charges for accuracy and approves  Reconciler forward Transaction Log, bank statement and original receipts to the Procurement Card Administrator

5.  The Budget Manager/Reconciler is the person who has been delegated all the functions associated with post-purchase processing in the card management system including account allocation and providing a business purpose when needed. A Reconciler CANNOT make purchases using the card belonging to the Cardholder for whom they reconcile. The Cardholder is responsible for all actions taken by the Reconciler on his or her behalf.  Every Department Head and/or Vice Chancellor should designate one or more Department Budget Managers/Reconcilers for his or her department. The Department Budget Manager/Reconciler must receive training before any employees in the department may receive a Purchasing Card  The Reconciler is responsible for reconciling all transactions. A transaction should not be reconciled unless approved with proper signatures and accompanied by a detailed transaction receipts attached before filing All small receipts should be attached to an 8 ½ X 11 sheet of paper.

6.  Procurement card purchases may not exceed $2,500.00/single transaction. Daily and monthly purchase limits are based on issuance per person. Daily and monthly number of transactions are unlimited.  Caution: Do not “split” a transaction. A purchase, exceeding your $2,500.00 single transaction limit, can not be separated into two or more transactions to avoid the P-Card limit. Splitting a transaction will result in the suspension or cancellation of your P-Card.  Note: You can only spend the amount of money you have in your budget. Example: If you have $6,000 in your budget you can only spend $6,000, not $10,000.

7.  Reconciler/Approver Manages the P-Card Program within a department. Reconciler/Approver review charges and sign and approve transaction log. Oversee appropriate use of P-Card Designate fund and account numbers Proof transaction log to ensure purchases were justifiable and receipts acceptable and match transactions Approve charges made to the P-Card Note: It is prohibited to use the P-Card for the purposes of Entertainment, Travel, Alcohol, or any electronic or items associated with electronics, (i.e. software, data, etc.)

8.  It is the responsibility of the cardholder and his / her designated reconciler to ensure that their monthly purchasing card transaction log is submitted in a timely manner to the Business Office.  The billing cycle for the procurement cards end on the 5th of each month and the transaction logs are due to the procurement card coordinator on or before the 5th of the following month. If any voucher packet has not been submitted by the due date or incomplete by the due date, the card will be immediately suspended and the cardholder, reconciler, and department head will be notified of the suspension.

9.  Continued  Reviewing vendor receipts for inappropriate purchases or uses of the Purchasing Card and to ensure that tax has not been charged. (Note not all vendors are Tax Exempt)  Reconciling all Cardholder receipts to Bank of America Cardholder transactions appearing on the monthly statement.  Ensuring that all proper and completed documentation is attached to the Cardholder’s reconciled P-Card statement and transaction approval report in the proper order. This includes an itemized receipt for each transaction and business purpose statements necessary to explain expenses that are not easily understood by an independent reviewer or outside auditor. Any non- compliant issues should be addressed with the Cardholder and the Cardholder’s Approving Official and corrected prior to submitting to Purchasing Card Services.  Having the Bank of America Statement signed each month by the Cardholder and Approving Official AFTER reviewing all reconciled transactions indicating that all purchases are appropriate and all required documentation is attached.

10.  Continued  Attempting to resolve any disputes with the vendor and/or Bank of America not resolved by the Cardholder.  Notifying the Purchasing Card Coordinator of the lost or stolen P-Cards  Requesting the purchasing Card Coordinator to cancel a Cardholder’s P- Card (e.g. terminated employees, employees transferring to other departments, and loss of Purchasing Card privileges) as approved by the Department Head.  Assisting Cardholders with erroneous declines and emergency transactions. Change in Reconciler  Changes in the Reconciler will require written Authorization from the Approving Official or the Budget Manger. Backup Reconcilers must also be designated in writing by the Approving Official or Budget Manager.

12. QUESTIONS