Western State Colorado University is an agency participant in the State's Procurement Card Program, established to allow state employees to use a Citibank Visa credit card to make small dollar purchases under $5000 in order to streamline the purchase/payment processes for the university.
Western PCard Program Goals:
- Acquire small-dollar (under $5000) goods and some services more quickly and easily
- Provide more timely payment to vendors
- Reduce number of purchases orders, check payments and petty cash transactions
Cardholders and Approving Officials, following the Western PCard policies and procedures, play a critical role in ensuring the success and integrity of the program. PCard purchases are governed by the same statutes and the same personnel, fiscal and Western procurement rules that apply to all University purchases and payments. PCard transactions are for official university business only. Each card has multiple controls such as spending limits, specified number of transactions per time period and blocked prohibited goods and/or services.
A PCard may be issued to any University employee with supervisor's approval to make tax exempt, authorized purchases from merchants that accept Visa credit cards. Purchase documentation (receipts) for each card transaction is required to be retained for monthly statement reconciliation. The university is responsible for administering the Western PCard and for monthly payment to the Bank for all of Western's cardholders' transactions each month. Cardholders are responsible for proper use and security of the card and Approving Officials are responsible for compliance review. Every individual authorized to use a PCard and his/her Approving Official must attend training and sign an agreement stating so.
The following steps summarize the general program process. Individual departments will provide specific instructions on how purchase authorization, information and documentation is to flow to complete the process. Cardholder should communicate with his/her Approving Official before beginning use of the card to ensure an understanding of the expectations and process flow through the department.
Purchasing – Purchases are made with the card. Goods or services are received and reconciled. Receipts and other transaction documentation are obtained by the cardholder and retained for statement reconciliation and Approving Official review.
Bank Posting – Transactions are submitted to merchant banks from merchants and posted by the Bank to card accounts. Cardholders review transactions after card purchases are made in CitiDirect.
Reallocating – Through CitiDirect, the cardholder changes the accounting for each transaction, if need be, as soon as possible after transactions are posted to the card account.
Banner Posting – Transaction data is downloaded from the Bank to Banner and the default or reallocated accounts are charged.
Statement Reconciliation – Cardholders acquire and print their statement from CitiDirect and attach documentation for every transaction listed on the statement. Cardholder signs statement and submits to his/her Approving Official for signature.
Statement Approval – Approving Official reviews statement and documentation for errors or violations, takes appropriate action if violations are found and then signs statement.
Banner Reconciliation -- Reconcile to Banner for each account in FGIBDST.
Filing – Signed statements with documentation attached are filed in the department and must be available for review upon request. Statements are kept for three full fiscal years, plus the current.