PROCEDURE FOR USING PROCUREMENT CARD
1. All items that are eligible to be purchased via petty cash or direct pay should be purchased using the University's Procurement Card. Certain expenditures, such as travel, hosting, membership and fixed assets are not eligible.
2. Where there are recurring payments, charge accounts or where tenders are involved, a purchase order must be used for control and commitment purposes.
3. All expenditures made using the Procurement Card must follow University Purchasing Policy.
When using the Procurement Card as a method of acquisition, the purchaser must ensure all relevant University policies are followed, including the obtaining of quotes, as outlined in the Purchasing Policy
5. Procurement Card Program
5.1 The Procurement Card Program is based on the purchasing card, VISA. Purchases made with the Card are to follow University Policy and are not intended as a means of bypassing appropriate procedures or sound purchasing practices. The program incorporates controls over certain types of expenditures including travel, hosting and fixed assets. Please contact Financial and Administrative Services for further details.
5.2 The purpose of the program is to establish a more efficient, cost effect method of purchasing and payment for small dollar transactions. The Procurement Card is intended to replace the bulk of purchases made using petty cash, direct pay forms and certain purchase orders. The Procurement Card does not replace the American Express or enRoute Cards for travel.
5.3 All Procurement Cards are issued at the request of the Dean, Director, Department Head, Executive Director or Principal. The Cardholder must be the only person using the card, and is responsible for its use. The card is subject to audit by Financial and Administrative Services at any time. The card must not be used for personal purchases, or Inter-University purchases.
6. Applying for a Procurement Card
6.1 An application to apply for a card can be obtained by contacting Financial and Administrative Services. The application must be approved by your Department Supervisor. The Supervisor must specify a monthly credit limit and single transaction limit.
6.2 The card will take approximately two (2) weeks to process. When the card arrives, the Cardholder must complete a waiver form at the Department of Financial and Administrative Services before picking up the card. Ensure all information on the card is correct; sign it immediately and call the (800) number provided on the front of the card to activate it.
6.3 The program carries a corporate liability. The Cardholder's VISA bill is paid by Financial and Administrative Services.
7. Reconciliation Process
7.1 On the 27th of each month, the Visa transactions for the previous month are made available to the Cardholders by accessing the US Bank Canada Website. To access this site, cardholders should use Internet Explorer (version 5.0 or better with 128-bit encryption) as their browser.
7.2 Cardholders are given a time frame of approximately 10-14 days from the time the files are made available in which to complete their reconciliation. The adjusted transactions will then be uploaded to Banner. Once reconciliations are completed, the Cardholder will sign the statement, forward it (along with all associated receipts) to his/her supervisor who will in turn approve it and redirect the file to Financial and Administrative Services.
7.3 Reconciliations will be completed on line by accessing the US Bank Canada Website. Individual Cardholders will be provided with a user ID and password to access the reconciliation site. Cardholders will also be provided with a copy of the reconciliation process and a copy of the Procurement Card Booklet which outlines the complete Procurement Card system for Memorial University. If further assistance is needed, or if a Cardholder experiences difficulties accessing the site, please contact the Procurement Card Administrator, Financial and Administrative Services at 864-4524 or by e-mail at firstname.lastname@example.org
8. Disputing Transactions
8.1 The Cardholder's first recourse is to contact the vendor involved to try and resolve the dispute. If the vendor agrees, a credit will be applied to the account.
8.2 If the vendor does not agree that an error was made, contact the US Bank Canada Customer Service at 1-800-588-8065 and/or Financial and Administrative Services. The Cardholder must give all pertinent details and state that he/she would like to dispute a charge on the card. This must be done within 30 days of the statement date. Disputes will then be resolved by the US Bank Canada within 90 days.