7.8 Purchasing Credit Cards

Select a Chapter:   


Chapter 7: General Finance Provisions


Related MnSCU Board Policy: 7.3 Financial Administration
Related MnSCU Board Procedure: 7.3.3 Purchasing Cards

Purpose:  The purchasing credit card program is a streamlined method to better manage procurement resources and thereby reduces the volume of individual vendor payments processed by the college in an efficient and cost-effective manner.

Part 1: Purchasing Credit Card Program
 

The use of the Purchasing Card is an alternate means of payment and must not circumvent purchasing rules, regulations, policies and procedures and must follow the guidelines in the Normandale Purchasing Policy and Procedures Manual.   The purchasing card allows a cardholder the authority and capability to purchase low dollar value business supplies and items directly under $2,500 per transaction and a maximum of $10,000 monthly.

 

Subpart A:  The purchasing card may not be used for complex services when insurance is required to protect the college from potential liability, construction services, professional-technical services or for high risk projects.   

 

Subpart B:  A complete listing of other restrictions are outlined in the Purchasing Card Policy and Procedures Manual.

^ top  
Part 2: Card Authority
 

Purchasing cards are assigned and issued to a cardholder and must be recommended and approved by their supervisor.  Tlhe cardholder and their supervisor must understand and acknowledge the use restrictions and consequences contained in the Purchasing Card Policy and Procedures Manual by signing the cardholder agreement.   Cardholders must have delegation of authority to participate.

 

Subpart A:  Purchasing cards are intended to be utilized exclusively by the Cardholder.

 

Subpart B:  Documentation for purchasing must be completed in timely manner and submitted with necessary receipts and submitted on the monthly transaction log for payment.

 

Subpart C:  Cardholders must ensure necessary funds are encumbered to cover transactions and monitor balances to provide adequate funds are available for monthly obligations.

^ top  

  Policy History:
Date of Adoption:  Established prior to 2011
Date of Implementation:
Date and Subject of Revisions:
Next Review Date:  2014-15
^ top