Summary
This policy governs the use of CalArts’ Purchasing Card (P-Card) for authorized payments of goods, services, travel expenses, and reimbursements. It ensures compliance with tax regulations, federal cost guidelines, and donor restrictions.
Key Guidelines:
- The P-Card is the preferred payment method for eligible purchases up to $2,500, with exceptions requiring approval.
- Transactions must be reconciled monthly, and supporting documentation is required.
- Unauthorized transactions include personal purchases, contractual payments, and restricted items.
Roles & Responsibilities:
- P-Card Holders must adhere to policy guidelines, maintain transaction records, and report fraudulent activity.
- Approvers review and authorize transactions.
- The Controller’s Office oversees compliance, audits transactions, and processes payments.
Exceptions & Compliance:
- Exceptions require written approval from senior administration.
- The policy is subject to updates based on business needs and regulatory changes.