The purchasing card is a MasterCard issued in the name of the VCSU employee. Employees will be designated by VCSU management to make purchases within assigned spending parameters for official VCSU business needs. The purchasing card will enable employees to purchase goods more efficiently and eliminate the preparation of purchase orders or vouchers (request for payments) to make applicable purchases.
The purchasing card payment system is an individual bill/central payment system. The cardholder receives a monthly account statement for information and reconciliation purposes only. VCSU Business Office obtains a consolidated electronic billing file and makes payment to JPMorgan on behalf of all cardholders. Expenditure transactions are processed and posted to the appropriate departmental fund using the default or modified accounting string assigned to each purchasing card.
Individual credit limits, including card and cycle limits, vary as determined by VCSU. To assure the effectiveness of the program, the policy and procedures in this manual must be followed. Failure to use the purchasing card in accordance with applicable policies and procedures may result in revocation of the purchasing card and may involve appropriate disciplinary action, up to and including termination and possible criminal prosecution.
Policy and procedure violations include, but are not limited to:
- Purchasing items with the card for personal use
- Failure to return the card when reassigned, terminated, or upon request
- Failure to submit original itemized receipts/invoices to the appropriate person in a timely manner
- Transferring assignment of the card to another individual
- Using the card on Internet Auctions sites, such as EBAY
- Repeatedly allowing sales tax to be charged when the purchases are tax exempt. Whenever the card is used, please inform the vendor that it is a tax exempt sale. NOTE: VCSU's tax exempt number is embossed on each purchasing card
A purchasing card is:
- Purchasing authority delegated by VCSU management to individual VCSU employees
- For official Valley City State University use only
- Authorized for purchases of $1000 and under, some exceptions apply
- Authorized for use with only certain categories of merchants
A purchasing card is NOT:
- A means to avoid appropriate procurement or payment procedures
- A means to access cash or a line of credit
- For use with interdepartmental billing (IDB)
- A right of employment
- For personal use