Custodian of Policy: VP Finance & Administration
Relevant Minnesota State System Policy: 7.1 Finance & Administration Authority of board, Chancellor & Presidents7 .3 Financial Administration1A.2 Part 3 Powers and Duties
Relevant Procedures: Minnesota State System Procedure 7.3.3 Purchasing CardsMinnesota State System Procedure 1A.2.2 Delegation of AuthorityMSU Moorhead Purchasing Card Policies and Procedures
Effective Date: Fall 2013
Last Review: Spring 2013
Next Review: 2019
MSU Moorhead has established a purchasing card in the name of the university with a financial institution provider (card issuer) for official university business use only. No retail store or vendor specific cards are permitted. An individual purchasing card in the name of the University and in the name of a state employee can be issued to a state employee ( cardholder) after a purchasing card application form is completed and approved. Each cardholder must be specifically delegated the authority to obligate the university to the specific dollar limit of the purchasing card. This delegation requires ongoing compliance with applicable statutes, rules, and board policies.
The university is liable to the financial institution provider (card issuer) for all charges made in connection with the purchasing card issued to the individual cardholder. Purchasing cards cannot be issued to a contractor, contract employee, or student employee.
Purchasing Card: Purchasing card means either an individual card or fleet card, as defined below.
Cardholder: Cardholder means a state employee who is issued an individual card and agrees to abide the tet1Ils and conditions of the MSU Moorhead cardholder agreement and comply with applicable University and system policies and procedures. Contractors, contract employees, and student workers are ineligible to be cardholders but may be authorized to use fleet cards.
Card Issuer: Card issuer is the financial institution provider to whom the University is liable for all charges made on individual purchasing cards by cardholders.
Purchasing cards provide the university with a cost-effective, convenient and streamlined method of purchasing items, thereby reducing the volume of individual payments processed by the university to vendors. Reports on cardholder activity provide the university the information necessary to better manage university purchasing activities.