The Seattle Pacific University Purchasing Card (P-Card) is a convenient and efficient method of purchasing specific goods and services while ensuring compliance with all relevant University policies and regulations. P-Cards are generally to be used for low-value, low-risk expenditures.
SPU is responsible with managing its resources with fiscal prudence and in conjunction with legal and regulatory standards. This policy outlines permissible uses of a P-Card and defines relevant purchasing and approval measures.
Entities Affected by Policy
All University Faculty and Staff.
Eligibility
Prospective P-Card holders are required to meet each of the following requirements:
If you meet these eligibility requirements, then please follow the Purchasing Card Registration Process.
Students and temporary faculty & staff are not eligible to hold an SPU P-Card.
Training
Approved cardholders will be required to attend a live training session.
Responsibilities of a P-Card holder
Individual P-Card holders are personally responsible for managing their assigned P-Card, ensuring that all transactions carry a legitimate business purpose, and regularly reviewing and reclassing completed transactions. P-Card holders must adhere to the following rules and responsibilities:
Obtain receipts (and make sure vendors include sales or use taxes on all receipts)
WA State Department of Revenue requires all purchases regardless of location to have sales or use taxes paid
If there is no sales tax included on your receipt, contact Finance
Reclassify the expenses each month
Keep your card safe; do not share the use of your card with anyone
Report missing or stolen cards immediately to the bank and inform Finance (P-Card Administrator)
Inform the SPU P-Card Administrator when you are leaving the organization or if you are changing roles within the organization
Appropriate Uses of a P-Card
University P-Cards are to be used for legitimate business purposes only. Examples of appropriate uses of P-Cards include:
Discuss with Wiki Workgroup on 2/29
Inappropriate Uses of a P-Card
University P-Cards are not to be used for personal purchases; cash advances and cash refunds are prohibited. Examples of inappropriate uses of P-Cards include:
Discuss with Wiki Workgroup on 2/29
Transaction Limits
Purchasing cards have a single-purchase limit of $2,000 and a monthly limit of $5,000.
No splitting of a transaction (i.e., splitting a $3,000 transaction into two $1,500 transactions to bypass the $2,000 limit)
Monthly cycle is the 26th of the month to the 25th of the following month
Alternative transaction limits may be granted in special circumstances. Please reach out to pcard@spu.edu regarding any related inquiries
Consequences of Non-Compliance
In the event that a P-Card holder violates the SPU P-Card policies and procedures, the cardholder may be subject to any of the following sanctions if deemed appropriate by the University:
Permanent revocation of P-Card privileges
Assignment of wages for repayment of discrepancies
Disciplinary action up to, and including, termination of employment and legal action
If a P-Card holder fails to submit statements and receipts to Finance within 60 days of the statement date, then P-Card purchases may be taxed on the cardholders next payroll.
Audits
To ensure the continued success of the P-Card program, and in order to meet SPU’s audit requirements, periodic audits of the cardholders’ transaction files will occur. The primary purpose the audits are to ensure the following:
P-Card purchases reflect legitimate business needs of the institution
P-Card purchases adhere to University purchasing policies (insert purchasing policies)
Accurate reviewal and approval processes are being regularly conducted
Expenditures are being accurately reclassed and reallocated
Additionally, the bank will send a periodic report of all transaction activity to the SPU Purchasing Card Administrator. This information will be reviewed and made available to the Office of Finance.
For all P-Card related inquiries, please contact the SPU Purchasing Card Administrator at pcard@spu.edu