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Home FAQ How to Get a Card Index Online Reconciliation User Guide/Forms Using the Card Training What's New | Using the Card  Introduction The Purchasing Card is a VISA credit card issued by US Bank/Élan Financial Services showing the name IOWA STATE UNIVERSITY, the individual cardholder’s name and ISU department name. The Purchasing Card Program is designed to improve efficiency in processing and completing low dollar purchases of approved commodities from any vendor/supplier that accepts a VISA credit card. This program will enable you to purchase approved commodities directly from vendors/suppliers. Payment for all Purchasing Card transactions is performed electronically, which eliminates the need to process vendor invoices and to issue checks for payment of each invoice. The card is a privilege granted to the individual by the University, so it is the duty of each cardholder to ensure the responsible use of University funds. The University will seek restitution for any inappropriate charges made to the card. Fraudulent or intentional misuse of the card will result in revocation of the card. Purchasing, Accounting, and the Internal Audit Office will monitor the performance of the Purchasing Card Program. Questions or concerns regarding policy should be directed to: 515-294-8757 Nancy Brooks  515-294-4589 Lesley Lackore (top) Acceptable Uses The Purchasing Card is intended for the procurement of low-dollar supplies and may be used for purchases of all non-restricted commodities (see Limitations and Restrictions). Each Purchasing Card is issued to a named individual and the university is clearly indicated on the card as the corporate buyer of products and services. The use of the Purchasing Card for registration fees and dues or memberships will be allowed. When the Card is used for registration fees, all optional fees (e.g. tours including meals) are considered personal and are not to be charged to the Card. If optional and a meal is included, the payment is to be made with personal funds and reimbursement for the meal (maximum ISU meal amount applies) should be claimed on a travel expense voucher. The class code of all registration expenses must be 22280 for domestic conferences and 22290 for foreign conferences. Dues or memberships may also be paid with the Card providing some benefit is derived by ISU as a result of the membership (see the University Policy Manual for further information). The class code must be 38200 for these expenses. Golf or similar memberships are not allowable. (top) Limitations and Restrictions All purchase transactions processed against the Purchasing Card must be made by the individual to whom the card is issued. The card is to be used only by the named cardholder and is not to be loaned to another employee, or other person. The cardholder has full liability for any improper charges that result from allowing others to use the card. All transactions are authorized or declined based on the following Purchasing Card authorization criteria:
The Purchasing Card may NOT be used for the following transactions: Equipment
Travel expenses
Items available through university stores and services
Services
Personal items and gifts
Items restricted due to standards/reporting issues
Additional restrictions for cardholders without hospitality rights
Cardholders are expected to purchase in-stock items at university stores unless substantial savings can be realized through alternative sources. Meeting, Event, and Hospitality Usage The university has authorized the use of the Purchasing Card for meeting, event, and hospitality expenses up to its $2,000 per transaction limit. Existing cardholders may request a configuration change to their Purchasing Card by completing the Purchasing Card hospitality attachment and forwarding the completed document to the Purchasing Card Program Administrator. Hospitality expenses are allowed primarily for those functions with an explicit business purpose which include non-employees. Use of university funds for employee functions is allowable only in accordance with University Policy Manual (UPM) chapter 10.2(2): Business meeting meal costs are considered allowable primarily for infrequently occurring functions with an explicit business purpose. The purchase of meals for departmental events that are primarily for employees may be transacted on the purchasing card only when 206 (non-university) funds are used. The cardholder shall provide and maintain documentation regarding the business purposes of all hospitality transactions, including business purpose, beginning and ending dates, location, event type, and names of participants. This information is required for compliance with IRS regulations and must be provided in order to complete the on-line reconciliation process. Purchases must be for the use and benefit of the university. NO PERSONAL PURCHASES ARE ALLOWED. Acceptable uses include:
With regard to purchase of alcoholic beverages, please refer to university policy. When the Purchasing Card is used for meeting and hospitality expenses, the following class codes must be used:
(top) Ordering Process
The Purchasing Card Program provides another option to the existing
purchasing procedures regarding transactions for goods valued at $2,000 or
less (including all delivery, shipping, etc.). No single purchase is to
exceed $2,000. Splitting transactions to bypass a card’s transaction limit
is a violation of the
Cardholder Application and Agreement
and the Statement of Receipt, both signed by the cardholder. Any evidence
that a cardholder has used these or other means to avoid the transaction
limit will result in the loss of purchasing card privileges.
All packing slips and card receipts must be retained as part of the purchase transaction documentation, as noted in the following section. Proof of Purchase Documentation The Purchasing Card Program facilitates point-of-sale purchases, giving authorized cardholders the ability to purchase specific goods directly from a vendor/supplier. The Purchasing Card will eliminate the time and effort spent on processing requisitions and other internal forms, filing of purchase order copies, distribution and the filing of multiple payment vouchers. With this authority comes the responsibility for maintaining adequate documentation at the source of the transaction. It is the responsibility of each department and/or cost center to assign responsibility for record retention in accordance with the university's Records Retention Policy. Original documentation MUST be maintained at its source and MUST support an authorized (acceptable) business purpose of all transactions made with the Purchasing Card. For hospitality transactions, the cardholder shall additionally provide the event type, beginning and ending dates, location, and names of participants. Documentation is to be maintained in the source department for five (5) years. Supporting documentation might include the following:
(top) Reporting a Lost or Stolen Card If a Purchasing Card is lost or stolen, the cardholder must immediately contact US Bank/Élan. US Bank/Élan representatives are available 24 hours a day, seven days a week. When reporting a lost or stolen card, the cardholder MUST tell the representative the call is regarding an Iowa State University Purchasing Card. Lost or Stolen Card: 1-800-393-3526 It is also the responsibility of the cardholder to report the loss of a Purchasing Card immediately to:
The ISU department requesting the card has full liability for any charges to the card prior to the time it is reported lost or stolen. Should you need emergency assistance from Visa that USBank/Élan is unable to provide, VISA may be contacted at 1-800-847-2911. (top)
Transaction Discrepancies, Disputes, and Fraud
If there is a charge that is not recognized by the cardholder or if it appears to be incorrect, the department should first seek resolution with the merchant. Should this prove unsuccessful, the department shall contact the Purchasing Card Program Administrator with supporting information. All discrepancies shall be communicated to the Purchasing Card Program Administrator within 30 days of the transaction post date. Your request will be investigated by the Purchasing Card Program Administrator, and, if resolution cannot be achieved with the merchant, sent directly to US Bank/Élan for review. Once the charge is disputed, US Bank/Élan will suspend the charge and request documentation from the merchant. If the merchant fails to provide suitable documentation within forty-five (45) days, the charge will be removed from our account and appear as a credit on the next statement. Transactions sixty (60) days past the statement date cannot be disputed
with US Bank/Élan and will be the responsibility of the cardholder's
department. Employee Transfer or
Termination The employee or employing department must immediately notify the Purchasing Card Program Administrator upon learning of cardholder terminations or transfers. Advise the date that card privileges need to be terminated. Purchasing will immediately notify US Bank/Élan, thereby protecting the university through Visa’s Liability Waiver Program. Failure to notify US Bank/Élan within two (2) days of learning of an employment status change voids this protection. The employing department is responsible for destroying and discarding the Purchasing Card once the cardholder leaves the university/department. Do NOT send active Purchasing Cards through campus mail. Additionally, should the employment status of a validator, reallocator, approver or any of their proxies change, the employing department shall notify the Purchasing Card Program Administrator immediately. The electronic reconciliation system operates with cardholder specific databases, which includes the names and e-mail addresses of each of the above. Any employment status changes not communicated to the Purchasing Card Program Administrator will cause delays and errors in the reconciliation system. (top) | |||||||||||||||||||
Purchasing Department, purchasing@iastate.edu Copyright© 2002, Iowa State University, all rights reserved Revised 11/19/2004 7:47 AM | ||||||||||||||||||||
