The reviewer of record should consider each transaction listed on the cardholder's monthly log to ensure proper documentation, consistency between the FRS charge and the receipt, the appropriate use of funds and that transaction is allowed. The reviewer of record is the university's fist defense against unfavorable audit findings and headlines.
The reviewer of record should demand additional information and/or documentation about any transaction in question and only sign the monthly log as approved when they are satisfied that all of the requirements are met. They should require proof of no activity if no monthly log is prepared. A print out of the account's history shows all months in which there is activity.
By the 25th of each month, every reviewer of record is required to notify the procurement card program administrator (PCPA) if any of the following occur for any procardholder:
- monthly activity log not presented
- monthly bank statement differed from monthly activity log
- monthly bank statement not reconciled to the monthly log
- monthly activity log not signed by cardholder
- written documentation for any disputed charge was not submitted
- documentation not present for any transaction
- any transactions were not in compliance with the program's policies
- any purchases were excessive or inappropriate
- if any cardholder leaves their department or the university
Failure
of the university's PCPA to certify that all transactions were in compliance
with the program's requirements may result in the university's loss
of procurement card privileges.
