REG 07.45.05 - Purchase Card
Authority: Vice Chancellor for Finance and Administration
History: First Issued: November 30, 2001. Last Revised: April 2, 2013.
Contact Info: Purchasing Director (919-515-2171)
The PCard program is administered by the Purchasing Department and is issued for business purchases only.
2. OVERVIEW OF THE PURCHASING CARD PROGRAM
· To pay for business related goods and services purchased on behalf of the University.
· To facilitate rapid payment of low dollar goods and services purchased within the guidelines of the University Procurement Process.
· To reduce costs and other resources associated with traditional procurement.
The NC State University Purchasing Card (PCard) is a standard credit card in which the liability rests with the University instead of the individual cardholder.
All purchases shall be made in accordance with applicable NC State procedures and in particular with NC State Purchasing Card procedures, as outlined on the University’s web site.
· It is easier to make business related payments for goods and services. The PCard is accepted virtually anywhere, and it reduces the use of other, more expensive payment methods.
· Complete transaction reporting is provided on a daily basis. PCard transaction information is easier to research and locate.
· The University has the ability to select specific spend categories. This provides increased security.
· Improved vendor relations.
4. AUTHORIZED USERS
PCards will be issued to paid employees who are authorized by the University to pay for business related goods and services purchased on behalf of the University. The name of the University and the cardholder will appear on the face of the card. The cardholder is the only person authorized to make purchases using the card.
5. SPENDING LIMITS AND GUIDELINES
· Spending limits per transaction are defined by the Division of Purchase & Contract in contract number 946A.
· University purchasing guidelines can be reviewed at http://policies.ncsu.edu/page/basic-procurement-guidelines.
6. INACTIVE ACCOUNTS
To protect the security of the program, any card that has not been used for six (6) months may be canceled. Exceptions may be made based on appeal by the cardholder.
7. DISPUTED TRANSACTIONS
Purchases appearing on the monthly statement from the bank may be disputed up to thirty days from the date of the statement. For more information on how/when to dispute, please refer to the PCard home page.
8. STATEMENT SUBMISSION
The cardholder is responsible for obtaining itemized receipts with pricing for every transaction appearing on the monthly account statement. Two different signatures are required on the statement. Follow the instructions on the statement. Signed statements with back up documentation are due in the Purchasing Department by the dates published on the billing cycle calendar.
9. LATE AND INCOMPLETE STATEMENTS
Any cardholder account with activity during a billing cycle must submit a complete statement package including itemized receipts and the printed, signed monthly account statement page(s) by the published deadline. Statements not submitted by the published deadline will be considered late and will be placed on spending hold or closed. For more information, refer to the PCard home page at http://materialsmgmt.ofb.ncsu.edu/pcard.html.
10. INTENTIONAL MISUSE POLICY
The PCard is designed for University business purchases only. An intentionally misused PCard may be canceled and sent back to the bank. Department management in consultation with Human Resources, if appropriate, is responsible for taking appropriate action consistent with applicable personnel policies. Pursuant to Section 143-58.1 of the General Statutes, it shall be unlawful for any person to purchase, attempt to purchase, procure or attempt to procure any property or services for private use or benefit, with such violation constituting a Class 1 Misdemeanor.
Penalties for violations of the General Statutes, North Carolina Administrative Code, and Purchase & Contract Procedures may include termination of employment, fines, and imprisonment.