(A) Purpose. Usage of purchasing cards (pcards) reduces the paperwork generated for purchases and facilitates more timely payments to vendors, thus streamlining the purchasing and payment process. This policy provides the framework for the university pcard program, the procedures for which are documented in the university pcard manual.
(B) Definitions. "Pcard" for the purpose of this policy means a purchasing card issued by the university's exclusive credit card provider, to be used only for business expenditures that are allowable under the university purchasing policy, as provided in rule 3342-7-12.1 of the Administrative Code.
(1) Program administration and roles. The division of finance and administration is responsible for the administration of the pcard program. Program oversight and compliance roles are assigned to the following departments and groups.
(a) Accounts payable provides functional oversight and management of the pcard program. One or more staff members, acting as pcard administrators, are responsible for the day-to-day management of the program. Pcard administrator responsibilities include serving as the point of contact between the university and the credit card issuing bank, card user training, card issuance and cancellation, the enforcement of the card user responsibility as defined in the university pcard manual, maintaining the pcard manual and ensuring that all pcard transactions are entered into the university's financial records.
(b) Procurement reviews buying patterns and analyzes pcard usage data to ensure compliance with purchasing policy and identify opportunities for price negotiation or the solicitation of bids.
(c) All transactions are subject to appropriate review by the Kent state university office of internal audit, the university's external auditors, and other reviewing agencies in order to test for compliance with university policies and procedures; federal, state and local laws; and regulations and constraints imposed by agencies and donors.
(d) Card users include pcard holders, transaction reconcilers and transaction approvers. Individuals serving as card users must be university employees with continuing assignments. Card user responsibilities are described in the pcard manual.
(2) Restrictions on use.
(a) Pcards are subject to certain restrictions, such as those on transaction dollar amount, vendor merchant category code (MCC), and purchase types. These limitations are established at card issuance and serve to ensure policy compliance and maintain financial controls. A comprehensive list of pcard restrictions is maintained in the pcard manual.
(b) Pcards may not be used to make personal purchases or for cash advances.
(3) University pcard manual. All procedures and pcard program information, including descriptions of card user roles and responsibilities, are located in the university pcard manual. The manual is located on the accounts payable website.
(4) The pcard is the only credit card to be obtained on behalf of the university for departmental purchases.
(D) Violations. Violations of the pcard policy or procedure may result in the individual being required to reimburse the university for inappropriate charges and may result in disciplinary action as established in the conduct and discipline section of the employee resource manual pursuant to the employee code of conduct provided for in rule 3342-6-01 of the Administrative Code.
Replaces: 3342-7- 02.16