PCard Principles

  1. PCards are issued to permanent, full time/part time employees who purchase goods and services on behalf of the University as a regular part of their job function.
  2. The PCard application and cardholder agreement must be completed by the employee and authorized by the manager of the department. The PCard is not transferable. Only the person, whose name appears on the card, is authorized to use the card.
  3. All employees involved in the PCard program, including cardholders, coordinators, supervisors and managers are required to attend mandatory training offered by Procurement Services prior to new cards being issued, or at any time significant program changes occur.
  4. Cardholders may use their card to make purchases on behalf of the department. Cardholders are responsible for the reconciliation process and record retention.
  5. PCard supporting documentation and original receipts must be kept by the individual department for 7 years for audit purpose. The director, Procurement Services (or delegate) may conduct random reviews to monitor compliance.
  6. Where Procurement Services has established contracts or preferred vendors relationships, cardholders are required to make purchases for these vendors using the PCard.
  7. Transaction limits are set to $2500 per transaction with a maximum $10,000 monthly credit limit. Refer to Spending Limits for additional information.
  8. Lost or stolen cards must be immediately reported to US Bank, the PCard program manager and the PCard transaction approver. The bank is accessible by phone and internet 24 hours a day, 7 days a week.
  9. PCards must be cancelled and returned to Procurement Services if an employee transfers to another department in the University, take a temporary leave of absence, or leaves the University permanently. PCards may be cancelled as required by the bank, the director, Procurement Services (or delegate, or the PCard transaction approver.