6.02(a) PROCUREMENT CARDS
- PurposeTo govern the administration and use of college issued procurement cards.
- PolicyThe college shall allow the use of procurement cards to purchase certain goods and limited services for the college. Such purchases must comply with the procedures and dollar thresholds outlined in the OTC Procurement Card Manual.
- Procedures are outlined and maintained in the OTC Procurement Card Manual.
- Immediate revocation of the OTC Procurement Card will result if:
- Unauthorized users were allowed access to the card.
- Fraudulent use of the card is determined.
- Revocation of the OTC Procurement Card may result after the third recorded violation of:
- Purchase of prohibited item(s) other than those outlined in the OTC Procurement Card Manual.
- Failure to distribute monthly charges.
- Failure to provide monthly statement to the Finance Department.
- Failure to provide signature of departmental budget authority on monthly statement.
- Failure to maintain and provide required supporting transaction documentation.
- Any purchases for goods or services that will be funded by any type of grant award are not allowed to be purchased with a procurement card. Any exception must have prior, written approval from the Finance Office.
Responsibilities will be outlined and maintained in the OTC Procurement Card Manual.
Definitions will be outlined and maintained in the OTC Procurement Card Manual.
- AuthorityThis policy is maintained under the authority of the Vice Chancellor for Finance.
- Related Policies6.02 Purchasing, Bidding, Receiving and Other Purchasing Related Functions
- Policy approved and adopted by the Board of Trustees on . Revised .
- Purpose, procedures, responsibilities and definitions approved and adopted by the Cabinet on . Reviewed . Set for review .