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Document
Establishing an Effective Supplier Diversity Program
Year Created: 2022
DOCUMENT
POL - OA4 P-Cards Program Example 2003
- YEAR CREATED: 2003
- ENTITY TYPE: City/Township
- TYPE OF DOCUMENT: POL - Policies/Procedures
- Management
- Policies and Procedures
The document provides information about a Purchasing Card Program, including guidelines, rules, and responsibilities. The program aims to provide an alternative method for low-dollar purchases not covered under approved inventory-related purchase orders, contracts, or preferred supplier arrangements. It empowers employees with the responsibility and means to handle these transactions effectively.
The document outlines specific rules and guidelines for the use of the purchasing card. It emphasizes the importance of retaining documentation for each purchase, and if a merchant only provides a credit card receipt without details, the cardholder must attach a written explanation describing each item or service purchased. The monthly billing statement is processed by the accounting system, and all transactions are posted electronically to their proper general ledger accounts.
In the context of tax remittance, the document mentions that the program is responsible for remitting accrued use/sales tax to the appropriate taxing authorities. This indicates that the program ensures compliance with tax regulations and handles the necessary tax remittance processes.
In case of a lost or stolen card, the document provides clear instructions for the cardholder to immediately report it to the bank, notify their supervisor and the Procurement Card Administrator, and report it to the police department. The liability for charges made with a stolen card lies with the cardholder's department until the bank is notified and an investigation is completed.
The document also highlights the importance of post-approval procedures. Cardholders are required to submit their monthly statement, purchasing card activity log, and all receipts attached to their manager for post-approval. Random audits will be conducted to verify compliance with the program's guidelines.
Furthermore, the document specifies the retention period for post-approved monthly statements with attached receipts, which should be kept by cardholders for two years before being sent to central records for an additional five-year period.
Overall, the document provides comprehensive information about the Purchasing Card Program, its guidelines, rules, and responsibilities for all parties involved. It also emphasizes the program's responsibility for tax remittance and highlights the importance of post-approval procedures and record retention.