Purchasing Card - Step 5

Appropriate use of the purchasing card is essential to protect the University and individual Schools/Centers from theft and fraud. Purchasing card transactions total $20 million dollars each year and need oversight just like personal credit card transactions. Therefore, all purchases must adhere to the University's procurement and disbursement financial policies.

To monitor compliance, the University has assigned transaction approvers at each School/Center to review cardholder transactions. In addition to reviewing transactions via PaymentNet, the transaction approver receives a signed monthly cardholder statement of account along with all supporting documentation (receipts, packing slips, etc.) from the cardholder to retain on file for tax and audit purposes.