The college Purchasing Card (P-Card) program is designed to streamline the purchasing process making it more cost effective to purchase low dollar items by reducing the paperwork and processing time needed for purchase orders, check requests, and invoices.
It should also be used for business related travel and meeting expenses as well as business related items for which one would request expense reimbursement.
This will also reduce the number of checks processed by issuing one monthly payment to National City Bank, our Corporate Card provider. In addition, The College receives rebate checks based upon the transaction volume processed through this program. It is very similar to a regular VISA credit card but with more controls.
Use the card for:
- Any business related expenses valued at under $2,000 per transaction.
- Airline tickets, hotel and other business related travel expense.
- Larger dollar purchases that are routine and for which we have a standing PO and a standing purchasing agreement. (Contact Purchasing for details)
- Chemicals requiring MSDS must also be approved via the campus requisition system for Safety requirements.
Do not use the card for:
- Cash Advances or withdrawals
- Personal purchases
- Capital Equipment expenditures
- Local car rental (contact Facilities Services (309)794-7278 )
I. Issuance and limits
At the request of the Department Chair or Director, and approval by the Director of Purchasing, cards are issued through the Card Administrator, Jill Harris at ext. 7351. email@example.com
General spending limits:
- $2,000.00 per transaction - including travel for the College
- $1,000.00 - $5000.00 monthly limit - based on budget and need
These limits will vary by cardholder based upon purchasing requirements and authority levels, and will be determined by the Card Administrator in consultation with the appropriate Director of Purchasing and Department Chair, Director, or their Designee.
II. Tax Exemption
The College Corporate Card is Illinois Retail Sales Tax exempt and the exemption number is listed on the front of the card. It is the user's responsibility to remind the vendor of this status at the time of purchase to avoid being charged sales tax.
III. Personal Risk and Responsibility
The Corporate Visa Card will not affect the Cardholder's personal credit. However, it is the Cardholder's responsibility to ensure that the card is used appropriately and with at least the same care as if it were the Cardholder's personal credit card.
All purchases made with the Augustana Corporate Card must be for College related purchases only. Card usage will be audited by the Card Administrator, and usage privileges may be rescinded at any time. Additionally, disciplinary action may occur for misuse.
All cardholders will receive a monthly billing statement with "memo items" listed for all transactions and a zero balance shown as payment due. The bank includes the detail of charges on the statement as memo items which require reconciliation. The cardholder reconciles and returns statement and all receipts to the Business Office no later than the end of the current billing month.
The same items are listed for each cardholder on the corporate monthly billing statement. The corporate billing statement totals all charges as the amount payable and the College remits the balance due within 21 days of the cycle end date.
How the process works:
- Item is purchased and purchaser receives receipt. If purchase is made online be sure to print a copy of the receipt. If ordered by phone request a faxed copy of receipt. The College requires a receipt for all purchases.
- Receipt is reviewed by appropriate department chair, administrator or designee and 15 digit account code(s) assigned. The default account code will be automatically charged if this number is not changed.
- Receipt is held in department until end of month and summary statement is received.
- Summary Billing statement is received by College and paid in full within 21 days. Individual statements with zero balance due will be issued to each department upon receipt. Purchasing details will be listed in the memo field of each individual card holder's statement.
- Receipts are matched to statement, and appropriate account codes are edited in PVSNET to reconcile budget adjustments. Statement (with reciepts attached) is returned to AP by the last business day of the mont for entering into GL .
- Card usage audits are performed by Card system administrator or designee.
Review the Cardholder's guide for details regarding disputes, fraud, and other information.