Policy: Use of the University Purchasing Card
|Date: 03/13/12||Policy ID: FIN-044||Status: Final|
|Contact Office:||Procurement and Supplier Diversity Services|
|Oversight Executive:||Vice President for Management and Budget|
|Applies To:||Academic Division, the College at Wise, and University-related Foundations.|
|Table of Contents:|| Policy Statement
|Reason for Policy:||
The University Purchasing Card provides a means for authorized individuals to make official University purchases of small dollar goods and services with a credit card. This policy establishes the guidelines for the use of the University Purchasing Card.
|Definition of Terms in Statement:||
Approver: The employee who has the authority and knowledge to approve the expenditures on the account.
Authorizer: An individual assigned to approve purchasing card applications and changes to purchasing card limits and restrictions. This individual is the applicant's or cardholder's supervisor or sponsor (for students and other approved individuals). A supervisor can designate someone else to approve on his/her behalf. The individual should not be the cardholder and, in general, should not be asked to approve for an individual to whom they report.
Cardholder: For the purpose of this policy, an individual who holds the University Purchasing Card (Visa or MasterCard).
eVA: The Commonwealth of Virginia's electronic purchasing system.
Local Funds: Local funds are primarily composed of gifts, endowments, and endowment income. Some exceptions to State and Sponsored Program limits can be processed using these funds.
Local Purchasing Card Program (Purchasing Card Program, Card Program): A card program managed locally by the University's Purchasing Card Administrator with oversight by the University. Purchases should be made with local funds.
Non-Contract Vendor: A vendor that has not been awarded a term agreement. A purchase of $5,000 or more from a non-contract vendor requires competition.
Purchasing Card Administrator (Program Administrator): A University employee registered with the Card Provider and the Virginia Department of Accounts (DOA) as the only person authorized to make changes (e.g., add or cancel cards, change card controls, etc.) to the purchasing card program.
Preparer: The employee who performs the monthly detailed reconciliation and prepares documentation for approval.
Recon@UVa System: A system that provides an electronic solution for the documentation of reconciliations for all organizational units at the University of Virginia (including all academic schools and departments).
Sponsored Programs: Programs funded by revenue derived from grants and contracts. Most of the state limits apply to payments and reimbursements made from these sources. Exceptions are noted in the text of this policy or may be included in the terms of the grant or contract in question.
State Funds: Include tuition and fee revenues, F&A recoveries, funding from state tax dollars, sales and services activities, grants, and auxiliaries. State limits apply to payments and reimbursements from these sources.
State Purchasing Card Program: A card program managed locally by the University's Purchasing Card Administrator with oversight from DOA. Purchases may be made with local or state funds.
Student Organization: For the purpose of this policy, student organization is used as a general term that refers to all Contracted Independent Organizations (CIOs), Fraternal Operating Agreement Organizations (FOAs), and Special Status and Agency groups.
University Purchasing Card: A credit card issued to an authorized individual to make official purchases of small dollar goods and services (that do not require competitive bidding) quickly and directly. (Also referred to as the “P-Card,” the “Purchasing Card.”) This includes the local and state program.
UVa Market Place: The University’s primary purchasing system for entering electronic catalog and non-catalog orders and creating requisitions for purchase by Procurement and Supplier Diversity Services (PSDS).
Visiting Faculty and Staff: For the purpose of this policy, an individual working on a temporary basis at the University and not receiving compensation from the University's academic division. (Examples of visiting faculty and staff include, but are not limited to: visiting research assistants, visiting scholars and ROTC.)
The University Purchasing Card may be used only for purchases related to the conduct of official University of Virginia business. The University Purchasing Card may not be used for personal expenditures, cash advances, or to obtain store credit. All items purchased with University funds remain the property of the institution.
The University offers two types of cards dependent on the source of funds used for payment: (1) A MasterCard that uses local funds as the source of payment; and (2) a Visa card that uses state funds as the source of payment. Cardholders are responsible for following all rules governing the use of the University's Purchasing Card. These rules apply to both the State and Local Purchasing Card Programs unless otherwise specified in Section 5a.
Employees who violate University Purchasing Card policy and procedures may have their cardholder privileges suspended or permanently revoked, and may face additional disciplinary action, which could include termination of employment.
Students and non-employees (e.g., visiting faculty and staff, ROTC) who violate University Purchasing Card policy and procedures may have their cardholder privileges suspended or permanently revoked, and may face additional disciplinary action.
The Guidelines for Competition (to determine if the purchase requires competition, other processing by Procurement and Supplier Diversity Services, or may be ordered directly.)
|Major Category:||Finance and Business Operations|
|Category Cross Reference:|
|Next Scheduled Review:||03/13/15|
|Approved By, Date:||Policy Review Committee, 03/13/12|
|Supersedes (previous policy):||VII.C.3, Use of the University Purchasing Card|