Procurement Practices

General Procurement Practices

Supporting Documentation for Expenses

All procured goods and services must be supported by complete and accurate documentation following the University’s Purchasing Policy, Travel and Business Reimbursement Policy & Procedure, and Hospitality Policy & Procedure.

Authorization of Expenses

Individuals with signing authority must ensure that they are only authorizing expenses within their authorization limit.  If the limit is exceeded, the expenses should be forwarded to the appropriate signatory for review and approval.  Those without signing authority should not be approving expenses.

Procurement Card Procedures

Following the audit preformed in the 2015/2016 fiscal year, it was noted that the College had several issues related to following Procurement Card policies and procedures.  Below is a list of responsibilities for both the PCard holder as well as the holders Direct Supervisor available online under Financial Services – Procurement Card.

PCard Holder

PCard holders are to ensure that all transactions adhere to the restrictions and limits provided in the Procurement Card – Purchasing Services User Guide.

It is the responsibility of the PCard holder to preform a monthly reconciliation of their account on or before the last day to reconcile.  This will ensure all transactions are eligible, comments are filled in for each line item, and coding is changed from the default general “Procurement Card” object code.  At the time of posting, it is expected that no transactions will be left with the general “Procurement Card” object code (63356).

Once the monthly reconciliation is complete, PCard holders must print the transaction summery (even if no activity was recorded in the cycle) and attach all supporting documentation for supervisor approval.

Direct Supervisor

It is the job of all direct supervisors to ensure the card holders are performing the monthly reconciliation of their account.

During the approval process supervisors must ensure that:

  1. Monthly account activity has a cycle end date
  2. Each transaction is reallocated from the general “Procurement Card” account (63356) to a proper object code
  3. All supporting documentation is present and attached to the summary
  4. Descriptions have been given in the comments section of every line item
  5. The card holder has signed the activity report
  6. All restrictions and limits are being met

In the case that an entry is not reallocated out of the general “Procurement Card” object code, a journal entry may be done (provided it is within the same fiscal year) to move the transaction.  Although this is possible after-the-fact, it is no replacement for the monthly reconciliation.  The monthly reconciliation process is mandatory and must be followed by all card holders.