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PROCUREMENT

Duties of the Reviewer of Record

The designated reviewer of record ensures that all procard policies and procedures are followed. Regular review is the most reliable means to ensure that the card is used appropriately. To ensure complete understanding of program requirements and the proper approval of cardholder records, reviewers must attend a training session.

The reviewer of record should consider each transaction listed on the cardholder’s monthly log to ensure proper documentation, consistency between the PeopleSoft charge and the receipt, the appropriate use of funds, a reasonable price has been paid, and that the transaction is allowed. The reviewer of record is the university’s first defense against unfavorable audit findings and negative headlines.

The reviewer of record should demand additional information and/or documentation about any transaction in question.  Both the bank statement and the transaction log should be signed when the reviewer is satisfied that all of the program’s requirements are met. A monthly transaction log is required for every month, even when there is no procurement card activity.

Signatures of both the cardholder and the reviewer are required on both the bank statement and the transaction log.

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 procurement cardholder:

  • 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
  • any transaction is not in compliance with the published Towson University policies.

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.

Revised 10/26/10 - mlk

 

 

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