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Friday, May 29, 2015
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Announcements

Posted: Friday, May 29, 2015

Procurement Card: Retention of Records

Beginning fiscal year 2015–2016 (statement ending August 6, 2015), original Procurement Card documentation will be returned to cardholders after a confirming internal audit is completed by the procurement card administrator. Cardholders must retain all original documentation and statements for a minimum period of six years plus the current year.

It is important to note that SUNY, or the Office of the State Comptroller, may elect to audit Procurement Card accounts at any time. Scheduling of these audits does not require advance notice; therefore, it is extremely important that all cardholders and departments retain documentation of all transactions made using their assigned Procurement Cards. The Accounts Payable and Travel Services Office will also conduct periodic documentation checks with cardholders.

This process will eliminate the need for duplication in the retention of records in multiple locations. If you have any questions or need assistance pertaining to the future retention of records, please contact Bonnie McKay, procurement and travel card administrator, 878-4117.

Submitted by: Bonnie J McKay
Also appeared:
Tuesday, July 7, 2015
Wednesday, August 5, 2015
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