The signature of the cardholder’s supervisor or supervisor's designee is required on the purchasing card journals in addition to the cardholder’s signature. Because of the volume of dollars and transactions that the purchasing card program processes, supervisor review and approval is a prudent and necessary business practice. Audits have revealed that purchasing card transactions need greater attention in the home department.
Supervisor's approval on the PurCard Journal Report indicates the following:
- 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/invoices are attached.
- Transactions are within guideline limits - $2,500.00 per transaction.
- Transactions are charged to the correct chartstring 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.
PurCard Journal Reports are due to the Disbursement Center 10 days after journals are available for reallocation.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 the Disbursement Center in a timely fashion.