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- 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 US Bank 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 US Bank) to verify transactions.
 | The University’s CPC Web System gives cardholders and reviewers on-line
access to VISA transactions as they are posted by US Bank. The system
permits reallocation of each transaction to as many as six separate FAS
accounts, thus permitting a single transaction to be divided between multiple
accounts (including grants and contracts). The system also permits detailed
distribution of purchases by expense subcode. Finally, a History Report of
each billing cycle’s transactions is archived (by month) in the CPC Web
System after reallocation is completed to the FAS system. This action normally
occurs after the 15th of the month (after the close of the prior month’s
Visa billing cycle). |
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Information about the card and program
may also be obtained from Joseph Evans, Director, General Procurement,
x6-8501 or via email at
jevans@prosvc.umaryland.edu |
Get a card today and join others whom contribute greatly to
the tremendous success of the Corporate Purchasing Card Program!
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