Procurement Card Program
Introduction - Responsibilities and Liabilities
Cards are issued to an individual employee and not to an office, department, or other cardholder group. The employee listed on the card has sole responsibility for the control and use of the card.
After a purchase is made, the cardholder is responsible for verifying that all transactions listed on the statement are valid and that the amount charged is accurate. Transactions and VP7 documents shall be verified by an approving official.
Use of credit cards results in charges that must be paid but that will not have been encumbered. It is important that users not make charges in excess of available balances. The invoice from Citibank must be paid in a timely manner, therefore it is necessary for the Office of Accounting to promptly pay the bank from your default account. Your cooperation is essential in this matter.
There is a personal liability associated with the procurement card. Any cardholder making an unauthorized purchase will be held personally liable for reimbursing the university for the amount of the purchase.
The University's Liability
The State of Texas procurement card contract terms assign the university liability for unauthorized purchases made using lost cards up to $10,000.00 or the billing cycle limit of the card, whichever is lower.