Rules and Guidelines Effective February 2020, Updated Receipt Requirements effective April 2020
|Applicable Employee Classes||Reviewed Date||Approved by|
|All Florida Tech Employees||February 2020||Marsha Bewersdorf, CFO|
Florida Institute of Technology’s Visa Card program is administered by Bank of America for individual and departmental procurement cards (p-card). Departmental cards will be held by the department and each department is responsible for signing the card in and out when offering to a department member for use. Each department card must be assigned to one designated person and associated with their #900 for Workday. Contact Bank of America immediately if your card is compromised, lost or stolen (888-449-2273 24-hour customer service) and inform the Procurement Services p-card coordinator as soon as possible. Cardholders can also call the number on the back of the card for questions regarding card decline and available balance.
- The billing cycle is from the first (1st) of each month to the end of the month. Your credit limit is reinstated the first of the next month. Unused balances will not roll over.
- Cardholders are responsible and accountable to know their credit limits and current balances at all times.
- All transaction receipts are to be given to your reconciler by the end of every month for reconciliation. If the documentation for a transaction has been lost, it is the cardholder’s responsibility to obtain a duplicate from the vendor. If a duplicate cannot be obtained, the cardholder should complete the Missing Receipt form on the Procurement Services website. Include the supplier name, the business reason for the purchase, and itemized breakdown of the purchase/transaction including amounts/totals.
- Department Heads are responsible for their employees P-card use and must approve all transactions each month.
- Statements must have two (2) signatures/approvals; the cardholder and the supervisor/department head.
- Purchases are not to exceed $5,000 total per purchase transaction.
- Split Transactions are prohibited – Split transactions are purchases with more than one transaction per card or with multiple cards.
- Cardholders should not pay Florida State Sales Tax on any transactions. Please provide the supplier with your copy of the FIT Florida sales tax exemption card at the time of purchase. Additional hard copies are available at the Procurement Services office or you can download a copy from the Office of the Controller’s FIT website.
- It is the cardholder’s responsibility to avoid the payment of Florida Sales tax. Please check your receipts at the point of sale to ensure that no sales tax was erroneously charged. At the time of purchase is the greatest opportunity you as the purchaser will have to request that a vendor reverse the sales tax charge.
- If you attempt to reverse/avoid the tax and are unable to do so, please submit an explanation of the situation and any related documentation of the exemption attempt as an attachment to the applicable receipt(s). Many online retailers will also honor your Florida sales tax exemption. Please submit your tax exempt information when placing orders online.
- The FIT tax exempt card is to be used for University purchases only. No personal purchases can be made using FIT’s tax exemption. The IRS considers misuse of tax exempt status to be a tax fraud offense.
- Purchases may be made by phone, internet or in store.
- When ordering online, instruct the supplier to put your name and department name on the outside of the package.
- If an item is delivered damaged, broken, incorrect or does not arrive, contact the vendor immediately to resolve the issue. If you have any difficulties, call Procurement Services for assistance.
- Purchases for airline tickets, hotel reservations and car rentals (which are for company business) are to be with-in your monthly limit. Note: The limits on your P-card for airfare, hotel and car rental may be raised when traveling if requested, justified, and upon signed approval. Please provide the P-card Account Change Request form to Procurement Services.
- If paying for a purchase with Pay Pal or Square, documentation regarding the details of the purchased item(s) and vendor must be included with the receipt.
- If a vendor requires the use of a mobile pay other than Pay Pal, contact Procurement Services before making the purchase.
- Amazon Purchases:
- All Amazon purchases must be made through the Florida Tech business account.
- You must separate your personal Amazon account from your business account.
- Do not use your business account for personal use.
- Do not use your p-card to pay for Amazon Prime membership.
- Alcoholic beverages
- Parking/Traffic Violations
- Excessive tips (greater than 20%)
- Capital equipment. Regardless of the cost, capital equipment must be ordered through a purchase requisition.
- Consultants, speaker fees
- Controlled substances
- Live animals.
- Cash advances on your p-card are not allowed. (The p-card will not work at an ATM)
- Cashback on purchases or returns is not allowed. Please request that your card be credited.
- Florida Tech venues or on campus e.g. Panther Grocery, Panther Dining, The Sub etc. (The campus bookstore is run by Barnes and Nobles and is not included in this restriction)
- Personal use of the university p-card is not allowed. If you make a personal purchase in error, please inform your department head and the p-card coordinator immediately, so that you may reimburse the university. Keep your business card separate from personal cards.
- Peer-to-peer mobile payment services, such as, but not limited to, Venmo, Zelle and/or Popmoney, are strictly prohibited.
- Purchase of/Repair of Luggage even if used for company business.
- Computers and laptops, regardless of cost, must be ordered through a purchase requisition, so that these items can be tagged and to ensure it meets IT specifications and warranty requirements.
- Note: All other mobile computer devices under $1,000 may be purchased with a P-Card. These items must be tracked by the department and must be given a property tag and recorded by a member of the Property Control team for inventory.
- Hazardous chemicals/radioactive isotopes/laser, etc. These items must be ordered through a purchase requisition unless Procurement Services has established a planned purchasing program outlined with the department. These items will be tracked and logged for safety through the Department of Environmental & Regulatory Compliance.
- Any software or technology subject to the jurisdiction of theInternational Traffic in Arms Regulations (ITAR), as enumerated on the United States Munitions List (e.g. firearms, certain infrared cameras, certain UAVs, etc).
Grant Restricted Funds
All Procurement card applications for RESTRICTED FUNDS must be submitted to the Office of Sponsored Programs for review. Upon approval, the request will be forwarded to Procurement Services.
For each transaction, accountable documentation (i.e. a sales draft or receipt) must be obtained as proof of purchase. Documentation must contain line item description and line item pricing for the purchase whenever possible. The documentation should include:
- Vendor name
- Transaction amount
- Date of the purchase
- Itemized list of items purchased
- Written business purpose for purchase(s). This can be on the receipt itself, or attached to each receipt as a separate document.
- Other information as required by the department
For meals, special events, and entertainment charges, the cardholder needs to provide a complete business purpose, including a list of attendees/group name, either by noting it on the receipt or attaching an explanation to the receipt (This includes all food/drink transactions made at a restaurant or grocery store). The complete business purpose must include: the reason for the purchase, date of the meeting/event, location of the meeting/event, type of meal, and list the names of individuals at the meeting (if attendance is over 10 just provide an explanation of what group it is).
If you experience a billing error, complete the Statement of Disputed Item form located on the Procurement Services website and fax to Bank of America copying Procurement Services.
P-card Use For Fuel Transactions
- Use the P-card to purchase fuel for rental vehicles when traveling for the university. A rental car agreement must accompany any fuel receipts submitted.
- Do not use the P-card to purchase fuel for personal vehicles.
Procurement Card Violations
Disciplinary action can be taken on cardholders who violate the P-card Rules and Guidelines as well as Procurement Services Policies. The cardholder may be asked to provide a detailed explanation and documentation to justify the purchase or action. The disciplinary action taken is dependent on the severity of the violation, the number of previous violations incurred by the offender, corrective action previously imposed, and any other factors deemed as relevant. Any combination of the below repercussions will occur based on the violation:
- Upon your first violation you will receive an email warning and a member of the Procurement Services team will request to schedule a time for you to come in to the Procurement Services Office to go over training materials to refresh your knowledge of P-card guidelines. Your department head will be copied on the correspondence.
- On the second violation, the cardholder will receive a written p-card violation warning that will require the cardholder’s signature and the signature of their department head.
- If a third, or more serious, violation occurs your card privileges may be revoked.
Further actions may be determined by Florida Institute of Technology depending on the severity of the violations.
Note: Individual and department cards will be randomly audited by our p-card coordinator. Violation of these rules and uses may result in disciplinary action and card privilege revocation. Possible signs of violations and misuse will be further investigated by Florida Tech’s internal auditor.
I HAVE READ AND UNDERSTOOD THE ABOVE INSTRUCTIONS:
Signature of Cardholder: _____________________________________________
Print Name: _______________________________________________________