University of Arkansas at Little Rock
Policy Name: Procurement Cards
Policy Number: LR308.6
Effective Date: August 27, 2013
Policy
The Procurement Card (P-Card) is defined as a credit card that is an accelerated, flexible purchasing tool administered by the State of Arkansas for conducting official UA Little Rock business. The issuance of a P-Card to an individual represents the trust bestowed by UA Little Rock to protect its assets and integrity.
The UA Little Rock P-Card program utilizes internal management and various methods of control. Internal audits are conducted to monitor all P-Card purchases in accordance with all pertaining documentation, ensuring compliance and integrity. Responsibility and accountability for all P-Card transactions will reside in the department. All cardholders and approvers are required to participate in annual training and achieve successful assessment of their knowledge of all procedures.
Procedures for utilizing the P-Card are located on Procurement Services’ website and can be viewed at Procurement Card Procedures.
Source: UA Little Rock P-Card Program Policy and Procedures
Revised: October 24, 2005; September 20, 2007; February 15, 2008; December 1, 2011; August 27, 2013
Approved by: DRG, August 27, 2013
Custodian: Office of Finance and Administration