Overview of the WSCU PCard program
Western State Colorado University with its WSCU PCard program is an agency participant in the State Procurement Card Program, established to allow state employees to use a Visa credit card issued by CitiBank, to make small purchases to support and streamline purchase and payment systems and to increase customer service.
WSCU PCard Program Goals:
- Acquire small-dollar goods and services more quickly and easily
- Enable users to manage small-dollar purchases more effectively
- Provide more timely payment to vendors
- Reduce number of purchases orders, check payments, and petty cash transactions
Cardholders and Approving Officials, following the WSCU PCard policies and procedures, play a critical role in ensuring the success and integrity of the program. Procurement card purchases are governed by the same statutes and the same personnel, fiscal and WSCU procurement rules that apply to all University purchases and payments. Procurement card transactions are for official University business only and which are reasonable and necessary under the circumstances. Each card has multiple controls such as spending limits, specified number of transactions per time period and blocked prohibited goods and/or services.
A procurement card 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 WSCU PCard and for monthly payment to the Bank for all of WSCU's cardholders' transactions each month. Cardholders are responsible for proper use and security of the card and Approving Officials are responsible for compliance review and accurate recording of expenditures. Every individual who is authorized to use a procurement card and his/her Approving Official must attend training and sign an agreement to follow the program's policies and procedures.
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 or transaction documentation, obtained by the cardholder, are immediately submitted to the Approving Official or retained for statement reconciliation.
Bank Posting – Transactions are submitted to merchant banks from merchants and posted by the Bank to card accounts. In CitiDirect, cardholders review transactions after card purchases are made.
Reallocating – Through Citidirect, the WSCU reallocator changes the accounting for each transaction, as needed, 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 defaulted or reallocated departmental 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.