B.3.11 Procurement Card Policy

POLICY

Procurement cards are to be used when the item required is needed in short order or when purchasing by the use of the card is more efficient. The following conditions will apply: 

1. Procurement cards will be used for business expenses within the established limitations as defined within department positions. 

2. Procurement card statements will be received by individual card holders who are required to detail each expense for coding purposes. 

3. The card is only to be used by the designated card holder. 

4. Documentation (actual sales receipt and procurement card receipt) for all expenses charged to the procurement card will be submitted to the finance department on a monthly basis as outlined in the procedures. 

5. Each cardholder is responsible for familiarizing themselves and keeping up-to-date with the policies, procedures and restrictions regarding the use of the procurement cards.

6. If the procurement card is lost or stolen, the card holder must report it immediately to their immediate supervisor and the finance department. 

7. Upon termination of employment with the Manitoulin-Sudbury DSB, the procurement card will be returned to the financial department along with the final procurement statement and expense details.
    

PROCEDURE

• Cardholders receive cards from their supervisor (through the Finance Department).
• Each cardholder is responsible for the activation of the card.
• At the time of activation cardholder will set up a unique PIN (personal identification number). At NO TIME should the cardholder disclose the PIN to anyone.
• Cardholders will sign the back of the card. 
• Cardholders are responsible to track all receipts
  • Receipts MUST detail GST/PST/HST.
• An electronic version of the statement will be sent to each supervisor on the 5th of the month.
• Procurement Card Log’ covers from the 5th through the 5th of each month.
  • The ‘Procurement Card Log’ needs to agree to the statement.
• Cardholders are required to complete the electronic ‘Procurement Card Log’ each month and forward both a printed signed copy and an electronic copy to their supervisor along with the original receipts from all transactions for the period.
  • Supervisors must ensure that all coding is correct and that purchases were valid.
  • Additional coding can be added to the ‘Procurement Card Log’ with request to the finance department.
• Receipts and ‘Procurement Card Log’ are due to the Finance Department by the 15th of the month (must be completed and approved).
• Tracking of spending limits within each period are the sole responsibility of the cardholder (if a cardholder has nearly maxed out their monthly limit it is their responsibility to contact their supervisor. The supervisor will then contact the finance department on their behalf.
• Procurement Cards are paid on the fifth of each month via automatic debit to the DSB bank account. Therefore on the sixth of each month spending limits are returned to the full monthly allowance.
• Cardholders are responsible for the safe keeping of their Procurement Cards.
• Cardholders must report a lost or stolen card to the following parties:
  • Their supervisor
  • The finance department (z.finance@msdsb.net)
  • If afterhours - US Bank (1-800-588-8067).

When activating the card - the teleprompter will ask the following information