SECTION A: University of Nebraska Purchasing Card Program
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III. HOW IT WORKS
The Purchasing Card program simplifies the purchasing/disbursement process by facilitating point-of-sale procurement. Purchasing responsibility is delegated to the Department Head/Chair of the ordering department who is thereby enabling an authorized cardholder of that department to place an order directly with a vendor/supplier. The Purchasing Card program provides enhanced control for all transactions by producing immediate decisions on five specific authorization criteria as explained below.
When a purchase authorization is requested by a vendor/supplier at the point-of-sale, the Visa system validates the transaction against pre-set limits established by the Fiscal Affairs Office in conjunction with department administrators. All transactions are approved or declined (instantaneously) based on the following Purchasing Card authorization criteria:
Number of transactions allowed per day.
Number of transactions allowed per month.
Single purchase limit not to exceed $4,999.00.
Spending limit per billing cycle.
Approved commodity codes.
The authorization process occurs through an electronic system that supports the Purchasing Card program under the University's bank agreement with U.S. Bank, NA.
