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Purchasing Cards (Pcards)

Issuance Date: December 15, 2005 

Revised: October 1, 2015

 

POLICY STATEMENT

The Columbia University Purchasing Card (P-Card) is the preferred payment method for most business related, non-travel, small dollar purchases (under $2,500 per transaction) of goods and limited services by Columbia University’s schools and departments.  The use of a purchasing card significantly reduces the time spent purchasing and paying for small-dollar, high-volume transactions while maintaining adequate controls.

REASON FOR THE POLICY

The policy supports the use of Purchasing Cards for appropriate business transactions, while assuring that the appropriate internal controls are in place to minimize the University’s risk of financial loss.

PRIMARY GUIDANCE TO WHICH THIS POLICY RESPONDS

This policy responds to Purchasing Policy, as well as to all applicable Federal procurement laws and regulations, including but not limited to OMB Circular A-110 and the Federal Acquisition Regulation (FAR).  

RESPONSIBLE UNIVERSITY OFFICE

Procurement Services, Accounts Payable is responsible for administration of the Purchasing Card program, policies, and procedures in close coordination with the Purchasing Office, Treasury and the Controller’s Office.  

REVISION HISTORY

Last Revised February 2014

WHO IS GOVERNED BY THIS POLICY

This policy governs the use and administration of the University’s Purchasing Card Program.  All University personnel who participate in the P-Card program are governed by this policy.  


WHO SHOULD KNOW THIS POLICY

It is the responsibility of all University personnel who participate in the P-Card program to review and understand this policy. 

EXCLUSIONS AND SPECIAL CONSIDERATIONS

Not applicable

FORMS/POLICIES/PROCEDURES

All Forms, Policies and Procedures for the P-Card program are available on the Finance Gateway. These documents are frequently updated; so please check the Finance Gateway for the most current version.  

To see the full text of this policy, please use the link on the right.