Procurement Card

Care and Feeding of the Card

Once you have a Procurement Card, you must take the same care with it that you do your own credit cards. In addition, there are certain responsibilities prescribed by policy.

Below is a brief overview of your responsibility as a cardholder. It is important that you have a working knowledge of all associated policies before using the card.

Establishing Proper Controls

You are responsible for safeguarding the card, and for all purchases made with it. It's important that you work with your departmental staff (e.g., KFS Fiscal Officer) in establishing proper internal business control procedures and processes to ensure that all expenditures are compliant, accurate, and appropriate.

Keeping Good Documentation

Always obtain the appropriate source documentation from the vendor for every purchase and forward it to your Fiscal Officer within 5 days of receipt of goods. Source documentation, usually a receipt, must contain details of the item purchased. It is especially important to maintain complete source documentation for charges made against a Procurement Card assigned to a federally funded account.

Reconcile the monthly Procurement Card bank statement(s) against source documentation or a Purchasing Log. Check for any erroneous charges, returns, or adjustments and ensure proper credit is given on subsequent bank statements.

Safeguarding the Card

Procurement Card numbers are considered confidential and proper care should be taken with the card and any documentation that contains the card number. Card numbers should be removed or made illegible on all documentation, including copies filed at the department. Never give your card number or loan your Procurement Card to anyone, including coworkers. Destroy old cards in a manner that ensures the card number and expiration date are no longer legible.

Contact US Bank, the police (if appropriate), your Fiscal Officer, and the Procurement Card administrator if your card is lost or stolen.

If fraudulent charges appear on your monthly statement, the Dispute Reporting Form should be completed.