University of Arkansas at Little Rock
Policy Name: Use of Procurement Cards on Sponsored Project Fund
Policy Number: LR 308.9
Effective Date: April 4, 2019
Revised Date: New Policy – April 4, 2019
Most Recent Review Date: New Policy – April 4, 2019
The University of Arkansas at Little Rock prohibits securing a Procurement Card (P-Card) with the use of a restricted fund as a guarantee. This ensures that P-Cards are not used on sponsored projects without required permissions and that all costs associated with a sponsored project are allowable, allocable, reasonable, and timely. In unusual circumstances, come exceptions may be made. Requests for an exception to secure a P-Card with a restricted fund as a guarantee must be made in writing and approved by the Office of Research and Sponsored Programs (ORSP), prior to applying for a P-Card.
Reallocation of P-Card Purchases to Restricted Funds
With the Principal Investigator’s (PIs) permission, P-Card charges may be reallocated using a P-Card issued with a non-restrictive fund as a guarantee. Procedures for reallocating P-Card charges are located on the ORSP website and apply to P-Cards issued with non-restricted and restricted funds.
NOTE: All P-Card charges must comply with the State of Arkansas and UA Little Rock purchasing and P-Card regulations, as well as any sponsor guidelines for restricted funds.
This policy applies to all UA Little Rock personnel utilizing sponsored funding for payment of goods or services.
Approved By: Chancellor Andrew Rogerson, April 4, 2019
Originator: Office of Research and Sponsored Programs and Procurement Services
Custodian: Office of Finance and Administration