Purchasing Card

1
Purchasing Card

• Training for Purchasing Card Managers

2
Managers Responsibilities

• Verifying pre-approval of expenditure.
• Maintaining internal tracking log.
• Distributing Purchasing Card only to trained
  users.
• Performing monthly reconciliation of statement.
• Storing the Purchasing Card in a secured and
  limited-access area.
• Serving as liaison between the card User and the
  Business Office when necessary.
• Communicating with back-up manager.
• Back-up manager will assume the same
  responsibilities in the Purchasing Card Managers
  absence.

3
Purchasing Card Internal Tracking Log

• The Manager will be responsible for maintaining
  the Purchasing Card Internal Tracking Log, a
  detailed log-in/log-out record.
• The log will assist in tracking available credit
  limits, Users and purchasing activity.
• A separate log will be maintained for each card.
• Header information for each log form includes
• Name embossed on Purchasing Card
• Last four digits of card number
• Location (room/building)
• Fiscal Year (FY)
• Page (begin with 1 each fiscal year)

4
Required Information for Each Transaction

• Internal tracking log number (assigned ID)
• Purchase approved by (Business Manager or
  designee)
• Purchasing Card User
• Vendor/supplier name
• Estimated amount of purchase
• Description of items to be purchased
• Travel Order number (T)
• Method of purchase
• Date and time card logged out
• Date and time card logged in
• Actual expenditure amount
• Reconciled (month transaction cleared)

5
Verify before Releasing Card

• Verify you have assigned a unique id number to
  the transaction and have written it on the log
  and Purchasing Card Transaction Form.
• Before releasing the Purchasing Card double check
  the Business Manager or designee has pre-approved
  and signed the transaction form.

6
Card Security

• The Purchasing Card Manager will be responsible
  for making sure the Purchasing Card is returned
  in a timely manner after each purchase.
• A visual inspection of the card is required each
  day to verify the card is secure. Unknown
  whereabouts of the Purchasing Card for any period
  of time should be reported to the Bank for
  cancellation of the card.
• Periodically the security of the Purchasing Card
  and completion of the log sheet will be verified
  by the Business Office without prior notice.
• Do not allow the card number to be written down,
  retained and used at the employee's discretion.

7
Monthly Reconciliation of Statement

• The Manager will be responsible for reviewing and
  reconciling the monthly statement to the log
  sheet(s).
• Report any questionable transaction to the
  Business Manager and/or Dean.
• Turn all log sheets into the Business Office at
  the end of June and begin a new log sheet each
  July.
• The log sheets will become part of the Business
  Office record retention and filed with the
  original monthly statements and all transaction
  forms.

8
Business Office Web Site

• Purchasing Card Policy and Internal Control
  (review quarterly for any changes)
• List of authorized Purchasing Card Users
• List of Purchasing Card Managers (locations)
• List of important contact phone numbers
• Purchasing Card Transaction Form
• Purchasing Card Transaction Form Directions
• Purchasing Card Internal Tracking Log
• Purchasing Card User Training
• Purchasing Card Manager Training
• Purchasing Card Post-Approval and Compliance form

9
Contacts

• Business Office
• Ann Young 5-6200
• Routine inquiries
• Monthly statement
• Transaction form
• Melissa Levings 5-6217
• Policy interpretation
• Internal controls
• Pre-approval
• Concerns
• Purchasing Card Program Administrator - Cols
• Jen Bulla 2-9425

10
For the Bad News

• All of the Purchasing Cards will need to be
  replaced after all Managers are trained because
  the system cannot accept a name change.
• We will have you complete an application form
  within the next couple of weeks.
• When the new cards come in you will start a new
  log sheet but continue in sequence with the
  assigned log number.

11

• Questions