Corporate Purchasing Card Overview

The Corporate Purchasing Card is the premier tool recognized by the University for small purchases of products and services that facilitate the business needs of departments throughout campus.

The Corporate Purchasing Card Program is based on a State of Maryland Contract with Bank of America and VISA. The Purchasing Card is accepted anywhere VISA is accepted and may be used for any authorized purchase of $4,999 or less.

Areas where use of the card is restricted include, but are not limited to, cash advances, travel, and entertainment. Purchases must still follow State, University, School and Departmental rules and policies.

Each school and major unit determines who should be issued the card. Generally, the cards are issued to those front-line employees who regularly place small dollar orders. Effective July 1, 1998, the State Board of Public Works designated the Purchasing Card as the primary means of paying for Small Procurements of $2,500 or less in cases where VISA is accepted by the selected vendor. Effective April 26, 2000, Universities were granted permission by the State to raise this single purchase threshold to its new limit of $4,999.

Cards are issued in the names of individuals (not departments), and the cardholder and departmental reviewer are responsible for actively managing the appropriateness of purchases made with the Card. Minimal record-keeping is required of all cardholders and simplified procedures have been developed for recording and tracking purchases. At the end of every billing cycle (normally the 25th of each month), each cardholder must reconcile Card purchases against their monthly transaction log and VISA statement (issued by Bank of America) to verify transactions.

The eUMB Financial System gives cardholders, reallocators and reviewers on line access to VISA transactions as they are posted by Bank of America. The system permits reallocation of each transaction to an unlimited number of chartfields.

Information about the card and program may also be obtained from Carter Ward, Assistant Director, Business Development Program, at 6-5122 or via email at cward@af.umaryland.edu.