A purchasing card (P-Card) is a debit card with a one-time limit that allows a principal investigator (PI) or authorized project staff to purchase goods and supplies for sponsored projects with a budget of $2,000 or more. P-Cards are not for personal use and cannot be shared between individuals or projects. Each project requires a separate P-Card and a PI is responsible for all purchases made with the P-Card attached to their project account regardless of the cardholder.
A P-Card is issued with an expiration date or valid end date that corresponds with the end date of the project (not to exceed a maximum of three years). As P-Cards do not automatically renew, it is the responsibility of the cardholder to file the appropriate paperwork requesting a card renewal if the project associated with the P-Card has been extended or renewed. The cardholder should surrender the card when leaving a project or College.
Reconciling P-Card Expenses in Concur
The project account associated with the P-Card is encumbered as an advance under expense code 8260. Transactions are removed from advance status and reallocated to the proper expense code after reconciliation using Concur Expense. P-Card transactions must be reconciled in Concur within 35 days of the purchase and in a manner that provides the accountability of sponsor expenditures and compliance with all applicable restrictions imposed by funding sources and legislative bodies.
Reconciliation must include the business purpose of the item, justification of the expense, and receipts. Special attention should be paid to items that may be used for personal purposes (e.g., CDs, videos, mobile electronics, meals etc.). P-Card purchases are exempt from New York, New Jersey, Florida, Missouri and Tennessee State sales tax (NYS tax exempt ID is located on the P-Card). If a vendor will not grant sales tax exemption, note the vendor's refusal on the receipt.
P-Card Usage and Transaction Limitations
Use of the P-Card must adhere to RFCUNY guidelines and policies as well as any special requirements of the project supported by the sponsored funds. In the event of non-compliance or abuse of the P-Card, P-Card privileges will be terminated or suspended. Project administrators, PIs (if not the cardholder) and grants officers are responsible for reporting non-compliance to RFCUNY P-Card Support.
The number of purchases on a P-Card is limited to 8 per day, unless a request is made to a PI’s project administrator to increase the number for special circumstances. The limit of any single transactions is $5,000, unless a request is made to RFCUNY for careful assessment of policy adherence. The intent of the card is not to circumvent the purchase order process which is obligatory for all items $5,000 and above. Splitting transactions in order to circumvent RFCUNY purchasing policy and procedures is strictly prohibited and will result in revocation of the card.
Projects may have various restrictions based on funding sources. NY State and NY City projects have very restrictive line-item budgets that require purchases and other activities to be carefully screened by RFCUNY before incurring certain encumbrances and/or expenditures. The purchaser may never charge unallowable costs or costs generally considered indirect, such as offices supplies, on Federal pass-through programs, unless specifically provided in an approved budget.
The P-Card is not to be used for unauthorized purchases including: