• Finance Home
• General Accounting
  • Chart of Accounts
  • Month-End Close Schedule
  • Banner Budget Instructions
  • General Ledger Transactions
  • Cash Handling Policies
  • Retail Sales
  • Grants & Designated Funds
  • Reports
  • Forms & Instructions
  • FAQs
  • Contacts
• Liability & Risk Management
  • Insurance Coverage
  • Certificates of Insurance Information
  • Claims
  • Waivers
  • Contracts
  • Forms & Instructions
  • FAQs
  • Contacts
• Payments
  • Introduction
  • Policy Glossary
  • Business Expense Policy
  • Purchasing Policies & Procedures
    • Signature Authority Thresholds
    • Purchasing Processes
    • Transactions Under $2,000
    • Transactions Between $2,000 and $4,999
    • Transactions Between $5,000 and $9,999
    • Transactions Over $10,000
    • Special Circumstances
  • Travel & Entertainment
  • Purchasing Cards
  • Forms & Instructions
  • FAQs
  • Contacts
• Budget
  • Introduction
  • Overview of the Budget
  • General Guidelines for Budgeting
  • Budget Tools
  • Benefit Rates 2012-13
  • Benefit Rates 2013-14
  • Forms & Instructions
  • FAQs
  • Contacts
• Payroll
  • Student Payroll
  • Temporary Staff Payroll
  • Faculty/Staff Payroll
  • Forms & Instructions
  • FAQs
  • Contacts
• Downloadable Forms
• FAQs
• Contacts

Purchasing Card Procedures
Directory Assistance / Key Personnel
Purchasing Card Application (PDF)
Purchasing Card User Agreement (PDF)



Introduction
Welcome to Seattle Pacific University implementation of the Bank of America MasterCard purchasing card program. Bank of America's purchasing card is a MasterCard product designed for corporations to purchase low dollar, non-capital, non-raw material expense items.

Background
Seattle Pacific University has performed a study of non-value added tasks in the workflow, and specifically in the procurement process. It was found that approximately 82 % of all purchases were less than $2000, and that these purchases accounted for less than 20% of the money spent on all goods and services. The purchasing card concept is designed to delegate the authority and ability to purchase these low value items directly to the person to whom it matters most, YOU, the user. This is consistent with our policies as well as our attempts to put more control into the departmental purchaser’s hands.

Benefits
Purchasing card users will be able to make purchases much easier, faster, and more economically than before. Paperwork and processing at the departmental level, as well as in the purchasing and accounts payable functions,will be sharply reduced. By using the purchasing card for transactions below $2000, a department can consolidate request for payment forms to one per month vs. one per transaction. These efficiencies will allow all groups and individuals involved to be more effective and focused on the value-added aspect of their jobs.

Controls
The Bank of America MasterCard purchasing card program utilizes internal management controls and management information reporting to ensure that our policies, procedures and objectives are being achieved. The purchasing card is never to be used for “services.”