Financial Services and the Procurement Office have jointly developed a Procurement Card Compliance Review Program. The purpose of this program is to ensure that Towson University's Procurement Card Program remains in good standing. The reviews are intended to educate the cardholder on state and university regulations and to protect the university from card misuse, abuse, or fraudulent activity.
The program is a risk-management approach by which reviewers from Financial Services will conduct unscheduled reviews of cardholder records, complete a standard questionnaire, and report their findings to Procurement for further action.
Justification: Despite training, announcements, and reminders, some cardholders may not be complying with the policies and procedures of the program. The following areas are of particular concern:
- Cards and/or card numbers cannot be loaned or shared with others - this represents an increased risk of fraud.
- Cardholder transaction records/activity must be properly maintained and reconciled monthly using the on line reconciliation system. The cardholder's record of transactions must be printed and given to the cardholder's supervisor/reviewer for approval/signature.
- Purchases cannot be split to circumvent procurement policies.
Once Financial Services Staff completes a cardholder review and the information is provided to the Procurement Office, Procurement may find a cardholder to be:
- In compliance
- Not in compliance
For any questions about the ProCard Compliance Review Program, contact
Cathy Mattern in Financial Services
By phone: 410-704-5563 or e-mail firstname.lastname@example.org
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