Procurement-Purchase Card Policy
Policy Number: 300-009 Business and Finance
Policy Title: Procurement-Purchase Card Policy
Responsible Officers: Chief Financial Officer Delegated to the Chief Procurement Officer
Responsible Offices: Office of the Chief Financial Officer, Office of Procurement and Contracting (OPC)
Effective Date: April 27, 2023 (Interim); July 20, 2023 (Final)
Next Review Date: July 2025
Summary: This policy provides an overview of the PCard (Purchase Card) program and defines the terms of card usage, including responsibilities and restrictions within the program. The policy provides employees with an efficient method for making routine purchases valued at $2,500 or less. The PCard cannot be used to procure goods and services negotiated under the terms of a Master Service Agreement, eMarketplace goods, or any item with a per unit price greater than $2,500. The PCard Program is not intended to supplant the University’s existing Purchase Order (PO) process. It is intended to enhance the University’s portfolio of procurement methods.
Keywords: low-value purchases, allowable commodities, prohibited purchases, restricted purchases, compliance, PaymentNet
Related Site: Office of the Chief Financial Officer
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