The Procurement Card Program enables employees to make small dollar University purchases using a University credit card. The program is designed to make University purchases easier and more convenient by reducing the use of petty cash, Small Value Purchase Orders, and low dollar expenditures.
The Procurement Card is a University credit card that delegates small dollar purchasing power to individual University employees. The Procurement Card may be used for business purposes only and all purchases must comply with SVSU Policies and Procedures.
Individual transaction and monthly limits will be established for each card based on departmental needs. No cardholder will be allowed a transaction limit in excess of $1,000 unless authorized by the Director of Purchasing. The maximum monthly credit limit for each card will be $2,500 unless approved by the Vice President for Administration and Business Affairs.
Charges made to the card are billed directly to the University, therefore, no personal items may be charged to the card. The Procurement Card will be revoked and disciplinary action will be taken if the card is used inappropriately.
The employee must obtain and complete a New Cardholder Account A pplication and a Procurement Card Cardholder Agreement. The application must include an account number to which charges will automatically be applied. Individual purchases may be charged to other accounts during the monthly statement review process. The user should return the application and agreement with appropriate signatures to the Procurement Card Administrator for approval and processing.
New cardholders must attend an orientation session in order to receive their Procurement Card. When the Procurement Card Administrator receives the Procurement Card from the bank, a training session will be scheduled to review the appropriate use of the card, documentation required and an outline of the payment process. The cardholder will be required to sign the back of the card and acknowledge receipt of the Procurement Card User Guide.
Under no circumstances should the Procurement Card be used for personal, family or household purposes. It is the cardholder's responsibility to be aware of the restrictions and requirements and to abide by them. The Procurement Card is the property of SVSU and unauthorized use is prohibited. Use of the card outside of the spirit of this policy will be considered unethical conduct and subject to formal disciplinary measures.
The cardholder is encouraged to use the Procurement Card for purchases of general supplies. Certain commodities and services, however, are restricted and cannot be obtained using the Procurement Card. The Procurement Card cannot be used for:
If merchandise ordered using the Procurement Card will be shipped to the University, the cardholder should instruct the vendor to include the individual's name and department in the shipping address. Packages without this information may result in delays in delivery.
SVSU is exempt from sales tax. Cardholders should remember to mention the University's tax-exempt status when placing orders. At the orientation session, cardholders will be given a letter regarding tax-exempt status which may be given to vendors.
Cardholders are expected to maintain thorough and accurate records of transactions using the Procurement Card. Original, itemized receipts are required for all purchases and must be included with the Account Statement and Reconciliation Form. The cardholder is responsible for reviewing transactions for accuracy. Discrepancies will be the sole responsibility of the cardholder to resolve. Monthly statements and receipts are to be forwarded to the Procurement Card Administrator with the Account Statement and Reconciliation Form. The University will automatically pay monthly charges so it is the cardholder's responsibility to review the monthly statements timely.
Cardholders must notify the Procurement Card Administrator of any unauthorized use, loss or theft of the card. If the card is stolen, the cardholder must report the incident to University Police.
Should a cardholder transfer between departments of the University, the Procurement Card Administrator must be notified before the transfer occurs. Should the cardholder terminate employment at SVSU, the department has the obligation to reclaim the Procurement Card and return it to the Procurement Card Administrator before the termination date.
Cardholders must be aware of and acknowledge the University Financial Conflict of Interest Policy.