Presentation on theme: "Florida Tech Procurement Card Uses and Limitations."— Presentation transcript:
Florida Tech Procurement Card Uses and Limitations
Rule 1 The Monthly Billing/Reconciling Cycle: – From the 5 th of each month until the 4 th of the following month for posted transactions. –Each 5 th of the month your credit limit is reinstated. Unused balances will not carry over For available balances, you may contact Purchasing or Bank of America
Rule 2 Split Transactions: –You cannot have a purchase rung up as more than one transaction per card or with multiple cards as to circumvent the $ per transaction rule. You can submit a Purchase Requisition through Purchasing. –Flights & Lodging are open ended
Rule 3 Business Only: –NO Personal Purchases allowed. If a personal purchase is made in error, inform your Department Head and the Purchasing Department immediately so that you may reimburse the University.
Rule 4 Contact Info: –If your PCard has been compromised, lost or stolen contact Bank of America immediately and the Purchasing Department: BOA 24 hr: 888/ Purchasing: 321/
Rule 5 Detailed Receipts: –Please submit all detailed receipts to your Reconciler/Account Manager promptly. –Charges for monthly billing cycle must be reconciled by a specific due date. – Detailed receipts should include the breakdown of the purchase. Please add notes to receipts such as attendees, purpose, etc. If you dont have a receipt you must fill out the missing receipt form available. –This form should also include all the above.
Rule 6 Florida State Tax: –Do not pay FST in the State of Florida. Please provide the Vendor with Florida Techs Certificate of Exemption number from the card provided by the Purchasing Department
Rule 7 Cash Advances: –The PCard will not work at an ATM. No cash back on purchases or returns. Request that your card be credited.
Rule 8 Prohibited Items: –Alcoholic Beverages –Capital Equipment for a single item of $1500 or more –Computers, Ipads, tablets, smartphones, etc. (regardless of cost) These items must be ordered thru Purchase requisition These items must be tagged and ensure they meet IT specifications and Florida Tech warranty requirements.
Rule 8 (Contd) Prohibited Items: –Chemicals-Hazardous/Radioactive Isotopes/Laser, etc. Hazardous items must be tracked and logged for Safety with Greg Peebles, Director of Environmental & Regulatory Compliance. These items must be ordered thru Purchase requisition.
Rule 9 Florida Tech Venues –Do not use your PCard at any Florida Tech food venues on campus. PCard can be used at Barnes & Noble
Rule 10 PCard Purchases: –Can be done by phone, online, or in store. When ordering by phone and on-line please be sure to include your Name and Department on the package.
Rule 11 Ordered Items: –You may contact the Vendor if an item is delivered damaged, broken, incorrect or does not arrive. If you have any difficulties you may contact the Purchasing Department for Assistance.
Rule 12 Disputed Charges: –There is a dispute form on the Purchasing website for transactions billed to you in error. Please fill out the form and fax to BOA and copy Purchasing. Make sure to follow up. –http://www.fit.edu/pmm/purchasing/http://www.fit.edu/pmm/purchasing/
REQUIRED Statement Signature –Please be sure to review your charges and sign your monthly Statement. –Statements must also be signed by your Department Head. –Keep accurate files with your monthly statements, receipts, and all other pertinent information that would assist in a successful Audit.
REQUIRED (Contd) Please Provide Your Signature on the: –Uses & Limitations Document –Procurement Card Agreement Document ALL Procurement Card Holders must sign & date both above documents. –You can find the above under Help Topics: Procurement
Department PCard Each Department should keep an updated list of everyone that is authorized to use the Department Card. Department Cards should have a log- out/in sheet with: Date, Name, etc. Department Card Users (that dont have an Individual card) must sign the Uses & Limitations and the Card Agreement and forward originals to Purchasing. –Students are not authorized users
Department PCard Pg. 2 Please Inform The Purchasing Dept. immediately when a Dept. Card User is no longer with the Company, so that we may request a replacement Card (to terminate Card Information access). A new application will NOT need to be submitted. You can use the Acct. Info. Change Form on our website:
Note: –Individual and/or Department Cards will be randomly Audited by our Procurement Card Coordinator and/or Florida Techs Internal Auditor. –Violation of these Uses & Limitations can result in disciplinary action and card privileges revoked. –If you suspect fraud, or have questions or concerns, please contact the Purchasing Department.