Policy Statement & Purpose
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:
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.
Submit receipts to Finance if related to lodging, grant related expenditure, or if >$75.
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 (pcard@spu.edu).
Inform pcard@spu.edu 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:
Conference registration fees
Subscriptions
Local purchases where there is no time to wait for next day delivery
Small dollar purchases when a purchase order (PO) is not necessary
Local food and entertainment department expenses when in compliance with LINK
Travel related expenses, such as hotel accommodations, car rental, taxi rides etc in compliance with LINK
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:
Personal purchases
Any item exceeding the card’s pre-established transaction limit
Cash advances
Excluded, high risk merchant categories codes (MCC)
Alcoholic beverages (see LINK)
Purchases split into multiple transactions to bypass the single transaction dollar limit
Transaction Limits
Purchasing cards have a single-purchase limit of $2,000 and a monthly limit of $5,000.
Alternative transaction limits may be granted (temporarily or permanently) in special circumstances. Please reach out to pcard@spu.edu regarding any related inquiries.
Required Documentation
The IRS requires the University to retain records as follow:
Items with a value of more than $75.00
All receipts related to lodging.
Names of all attendees at a business event or meal/refreshment.
A credit card statement is not considered an adequate record for IRS purposes.
Credit Card Security
Keep your Visa purchasing card in a secure location and safeguard your account number at all times. You, as the cardholder, should be the only one using the card.
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 cardholder's next payroll. These expenses are considered out of compliance with the accountable plan date-related safe harbors.
Audits
To ensure the continued success of the P-Card program, and in order to meet SPU’s audit requirements, periodic audits of cardholder 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.
For all P-Card related inquiries, please contact the SPU Purchasing Card Administrator at pcard@spu.edu