LAFAYETTE COLLEGE P-CARD POLICY
OVERVIEW OF PROGRAM
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 with a limit of $4,999.99 and 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.
Cardholders are solely responsible to resolve all administrative issues that may be experienced with the use of their cards. For example, billing/charges questions with vendors, returns & credits, prompt fraud reporting and fraud follow up with issuing bank, promptly reporting lost/stolen cards to the card issuer, providing required receipts, and the running and timely submission of expense reports.
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 Cardholder is responsible for performing all administrative duties required by the program, for getting the required approvals prior to making the purchase, and reconciling all charges promptly made against your card, with receipts. You are also responsible for keeping it in a secure place. The “P-Card Application and Responsibility Statement” form 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.
For Individuals wishing to use Lafayette p-cards for travel arrangements, travelers should use a p-card issued in their name (i.e., where they are the cardholder); if travel is for group travel, use of the p-card requires prior customized arrangements and approvals, such as that arranged by Study Abroad, or athletics.
UNAUTHORIZED P-CARD USES
The P-card can NOT be used for the following:
All purchases that are UNAUTHORIZED reimbursement purchases under the “Finance Expense Reimbursement Policy” apply to the P-Card.
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, or above transactional limits set by policy, 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.
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, but will submit your monthly p-card statement, and you will be required to retain receipts and upload them into the JPMC online system, as well as attach them to your reconciliation for the monthly statement of charges so your approver can review them. 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 completed by the cardholder prior to receiving your P-card. Applications and information are in the “Forms” section.
CARDHOLDER RESPONSIBILITIES
As stated in the “P-Card Application and Responsibility Statement” form 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 significant 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 single transaction purchase limit ($5,000.00), and a specific monthly credit limit ($10,000), and are based on P-Card Policy and other applicable policies.
GRANT (SPONSORED FUNDS) 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.
Due to the complex nature of grants and other sponsored programs, Cardholders should be aware of and comply with all sponsored programs funds policies, requirements, and guidelines (reference Office of Research and Sponsored Programs site and its Grant manual), and contact the Office of Sponsored Programs to review that Office’s requirements for use of a P-Card, and documentation requirements regarding grant expenditures, prior to using the P-Card. Be aware that typically, sponsored funds programs specifically do not allow purchases from “excluded parties”, so College employees should not purchase from any organization that is debarred or suspended or otherwise excluded from, or ineligible for, participation in Federal assistance programs. Employees may check the status of a potential supplier on the sam.gov website
HOW YOUR CARD MAY BECOME INVALID
If you transfer to a different department, contact the P-Card administrator in the Procurement Services Office. Your existing P-Card will be canceled 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 canceled.