Addendum for Procard Limit Increase

							                             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.




C:\Docstoc\Working\pdf\466be58d-7b72-4fc8-a26c-64363a0362c6.doc
                                                    October 21, 2005