Lafayette College P-CARD Policy

 Effective as of August 2015

OVERVIEW

The Lafayette College P-Card is a credit card that offers a more efficient and flexible method to procure and pay for purchases of goods and approved web related orders that require a credit card within a limit of $5,000.00 and is designed to supersede most orders under $5,000 orders that comply with P-card policy.

Each credit card holder must have a Banner FOAPAL (account code) assigned to it as a default account.  The J.P. Morgan on-line software is web based and will allow the cardholder to access and enter the account FOAPAL after the charge is made.  The information must be entered by the designated time or the default account will be applied.  The P-card must be issued in an “individual’s name” and not a general department name.

P-CARD POLICIES

AUTHORIZED P-CARD USES

The P-card that you will receive is unique to you – no other person is authorized to use your card (because you are responsible for all the charges on your account).  You may make transactions/charges on behalf of others in your department, but you are ultimately responsible for getting the approval prior to making the purchase and reconciling all charges made against your card with receipts.  You are also responsible for keeping it in a secure place.  The “P-Card Responsibility Statement” must be signed prior to receiving your card.

All authorized purchases must be listed on the printed Expense Report from JPMorgan and all accounts must have an approval signature by the Department Head or Budget Manager.

All Faculty Travel must have the approval signature from the Provost Office.

UNAUTHORIZED P-CARD USES

The P-card can NOT be used for the following:

  • COMPUTERS
  • SOFTWARE
  • COPIERS
  • CAPITAL EQUIPMENT
  • ENTERTAINMENT
  • FLOWERS
  • GIFT CARDS
  • MAINTENANCE CONTRACTS
  • OFFICE FURNITURE
  • OFFICE SUPPLIES
  • PERSONAL PURCHASES
  • RESTAURANTS-FOOD

The JP Morgan Chase credit card uses MCC Codes which we have set up according to the College Policies, and if a purchase is attempted for a blocked MCC Code, the charge will be denied.  If your MCC Code has been opened for a specific reason, and you use your card for an UNAUTHORIZED charge, your card may be closed.

All policies that are UNAUTHORIZED reimbursement purchases under the “Finance Expense Reimbursement Policy” apply to the P-Card.

WHO CAN RECEIVE A P-CARD

Any permanent employee with Authorization by their Department Head or Budget manager.  You are not required to use personal information (such as SS#) on the application.  The charges will be paid directly by the College, you will not use a “reimbursement” form, you will be required to retain receipts and attach them to your reconciliation for the monthly statement of charges.  The P-card is not intended to avoid, eliminate or bypass appropriate procurement or finance policies and procedures.

A P-card Training session must be attended prior to receiving your P-card.  Applications and information are in the forms section.

CARDHOLDER RESPONSIBILITIES

As stated in the “P-Card Responsibility Statement” that must be signed, a cardholder that makes an unauthorized purchase with the P-Card in an inappropriate manner or without prior approval from the Budget Manager or Department Head, will be subject to disciplinary action including Cancellation of the Card and if a major violation possible termination of employment.

PROCEDURES

The P-card is a system that runs independently of Banner Purchase Orders.  The J.P. Morgan Chase On-line system is accessed online.  At the end of each month, the online information must be completed and the charges will be forwarded to the Banner budget account number that is given to each charge.  Each card is assigned a one-transaction purchase limit ($5,000.00), and a specific monthly credit limit, and all based on P-Card Policies.

  • You apply your correct banner account number, description of your purchase, and approve the charge via the on-line software provided by JPMorgan Chase at the end of each month. (The posting date for the College account is the 27th to the 26th of each month).  Your account information must be entered by the end of the month or your “default” account will be applied.
  • Print the Report from JP Morgan’s website, match and attach original receipts, have it approved by your Budget Manager (Department Head) and send the hard copies to Purchasing Office no later than the 10th of next month.  If not received your card will be on “hold”.
  • The report and receipts will be reviewed and at the end of the next month, the charges will show up in your Banner Budget.
  • see P-Card Reconciliation Instructions

GRANT ACCOUNT P-CARD CHARGES

Due to the complex nature of grants, please have the Office of Sponsored Programs approve all Vendors and orders prior to using the P-card.  In order to charge with the P-card against a Grant Account, you must use the “P-Card Grant Approval Form” and have it approved.

HOW YOUR CARD MAY BECOME INVALID

If you transfer to a different department, contact the P-Card administrator in the Purchasing Office.  Your existing P-Card will be cancelled or, if appropriate and approved by the new Department Head, the same card can be set up with a new “default” FOAPAL. If you leave employment with the College, your card will be cancelled.