64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Manage Your Credit Card Program and Boost Your Rebate!

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Speakers Holly Wallace; Member Relations Specialist, Illinois ASBO Nicole Stuckert; Dir./Financial Services, Sycamore CUSD 427

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Session Overview Growth of Credit Cards Growth of Rebates Credit Card Benefits Deciding on A Program Starting Up Developing Procedure Day to Day Management

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Growth of Credit Card Use

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Distributions of Non Cash Payments 2012

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Credit Cards can create efficiencies Cut Down on paper pushing Cut down on paper produced One check for the month Less Bank Statement reconciliation

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 What are the Experts Saying? “The average cost of processing a purchase order manually is between $75 - $200.” “Automating procurement reduces that cost to between $10 - $40... The Return-On- Investment (ROI) is amazing.” Deloitte Consulting Accenture US Bank Fifth/Third Bank American Express

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Credit Cards also benefit Suppliers

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Rebate Growth 2005: Illinois had 83 Districts Rebate = $46, : Illinois has 317 Districts Rebate = $1,050, Overall: 762 Districts Rebate: $2,903,503.41

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 SO….. Credit Card Use is rising Rebate growth is occurring HOW DO WE MANAGE GROWTH And BOOST REBATE?

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 What To Look For In A Program Acceptance of card Cost of Program Added or Hidden Costs Financials used Online Management Program Cut off Date Grace Days Payment Options Card Options Customer Service Available Rebate? Flexibility of program

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Check List To Start A Program Discussion with Superintendent/Board/Bus. Office Research available programs Develop Procedure Manual Present to Board for Approval Application/Implementation

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 BOE Expectations Compliance with Law Cost to Run Program Controls Available Checks and Balances in Place Policy and Procedural Manuals Reporting Ease of Use BOE approval to enter into contract

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Policy and Procedure Manual Policies and procedures for use Policies and procedures for MISuse Parts can be individualized Samples of paperwork Tutorials

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Obtaining A P-Card Supervisor recommendation –Limit Understanding through discussion –Training –What constitutes a legitimate purpose? Signing agreement Explanation of receipts –Description

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Start Up! Start with a pilot group – start small Re-evaluate procedure Increase card Use Re-evaluate program

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Ideas for Growing Your Program Analyze your spending habits Look at your check registry Get cards into the people who are doing the spending Secretaries Buildings and Grounds/Maintenance High School Departments Look at your big purchases Energy Transportation Food Books Technology Manage Your Program

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Sycamore Community Unit School District 427 Student Enrollment 3, Full-Time Staff Members Operating Budget $53,000,000

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 How to Get Started What program? Who are your cardholders? Agreements –P-Card Use AgreementP-Card Use Agreement – Request for Temporary Increase of P-Card Limit Request for Temporary Increase of P-Card Limit

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Day to Day Management Internal Controls –Monitoring use –Staying within budget –Following District’s purchasing procedures –Ensuring cardholders are informed Statement Reconciliation –P-Card Usage FormP-Card Usage Form

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 IASBO P-Card Program Utilizing P-Card Program for 10 years Additional savings on purchases 7 day grace period

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 IASBO P-Card Program Average $1,100,000 in p-card purchases/year

64 th ILLINOIS ASBO CONFERENCE AND EXHIBITIONS APRIL 29 – MAY 1, #iasboAC15 Future of the Program Reconciling online Keeping current on what the program offers Management & growth to the next level