|| Deans, Directors and Department Chairs|
|| Leo F. Neveu, Associate Vice President and Controller|
|| June 8, 2005|
|| University Procurement Card Program Enhancement|
The conversion of the State’s procurement card program to a Citibank Visa has created even more opportunity for the campus community to enjoy the benefits of credit card purchasing. The University at Albany currently ranks second among SUNY campuses in terms of dollars spent per month via procurement cards, and third in terms of the number of transactions per month. On average, our 222 cardholders are utilizing the card for 6 purchases per month.
Respondents to a recent campus cardholder survey indicated that the procurement card program has been extremely useful in meeting the OTPS needs of their departments in a timely and efficient manner. Some of the program benefits cited by respondents included the following statements:
The procurement process is very fast. “Just in time” purchasing eliminates the need for large campus inventories.
The ability to purchase commodities on-line or by phone with ease. Items are often available more cost effectively on the web so cardholders are able to use their limited financial resources more efficiently.
Less paperwork. Use of the card eliminates the need to complete purchase requisitions, to wait for and track purchase order balances and payments, and to complete receiving reports (AP102 forms).
Using the card fosters good working relationships with vendors because they are always paid timely and refunds for returned merchandise are processed quickly to campus accounts.
Forty percent of the respondents to the procurement card survey requested an increase of the $1,499 per transaction limit as an enhancement to their purchasing abilities. After surveying the other University Centers, two of which are currently operating at the $2,500 level, and considering cardholder demand and the success of the program at UAlbany, I’m pleased to announce that UAlbany will be moving up to the $2,500 level as well.
The higher transaction limit will become effective on July 1, 2005. Accordingly, beginning on July 1, the State Purchasing Office will no longer handle purchase requisitions or issue purchase orders for eligible commodity purchases up to $2,500. If your department does not currently have a procurement card, a card application can be downloaded by clicking here ---> Accounting Office’s Procurement Card
Any questions regarding the Procurement Card Program may be directed to Eileen Scanlan or Dave Mason in the Accounting Office at 442-3195.