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Addendum for Procard Limit Increase

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					                             ADDENDUM #3
             PURCHASING CARD LIMITS OVER $2,500 AND $25,000
                  PURCHASES BETWEEN $2,500 AND $5,000


1. PURCHASING CARD LIMITS

    A. Monthly credit limit - $50,000 or less
       Single purchase limit - $5,000 or less

    B. Requests for monthly credit limits between $25,000 and $50,000
       require an appropriate Dean or Vice President signature.

    C. Requests for single purchase limits between $2,500 and $5,000
       require an appropriate Dean or Vice President signature.

2. P/CARD PROCEDURES FOR PURCHASES BETWEEN $2,500 AND $5,000

    A. Purchases from contracts:      Purchases made from an established
       contract should reference the contract/contract number.
       Examples:
        OSU Contracts – computers, copiers and maintenance, paint, sand
          and gravel, etc.
        State Contracts – lab supplies, paper, copiers, etc.
        State Agency Contracts – OU furniture contract, etc.
        E&I Competitively Bid Contracts – office supplies, printers, lab
             supplies, etc.

    B. Quotations: Prior to purchase, at least two quotations are required
       when there is no existing contract.
        The quotations should be kept on file with the transaction log. If
         quotations cannot be obtained, an explanation should be attached
         to the transaction log.
        If the apparent lowest quotation was not used, an explanation as to
         why it wasn’t used should be kept on file.

    C. Sole Source: Sole source purchases (non-contract items) must be
       processed through the Purchasing Department on a requisition with a
       Sole Source Affidavit.




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                                                   October 21, 2005

				
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