The signature of the cardholder’s supervisor or supervisor's designee is required on the purchasing card transaction log in addition to the cardholder’s signature. Because of the volume of dollars and transactions that the purchasing card program now processes, supervisor review and approval is a prudent and necessary business practice. Audits in the last three years have revealed that purchasing card transactions need greater attention in the home department.
Supervisor's approval on the PurCard Journal Report indicates the following:
PurCard Journal Reports are due to Procurement Services ten days after the Mellon statement is received. As always, if reports are not received in a timely basis, purchasing cards will be placed on hold. It is the supervisor's responsibility to ensure that the PurCard journal reports are routed to Procurement Services in a timely fashion.
- All transactions are appropriate University business, and fall within University and federal guidelines. Any unusual purchases are supported by an explanation of the business purpose.
- All receipts are enclosed.
- Transactions are within guideline limits - $4,999.99 per transaction.
- Transactions are charged to the correct chart string and account.
- Transactions have been reallocated, if necessary.
- Transactions are in compliance with the IRS' Accountable Plan Rules. Space for this documentation is provided on the Purcard Journal report. This is true for all travel and meal transactions.
- Any additional documentation requirements have been completed.
- No Vermont Sales Tax has been charged.
- Supervisors must ensure that the purchasing card of a terminating employee is returned to Procurement Services for cancellation.
must ensure that the necessary documentation is completed and submitted
for the last cycle of purchasing card activity when an employee
(cardholder) is terminated.
Last modified February 19 2010 02:32 PM