What is a purchasing card sign out sheet form used for at Ball State University?

Definition and Purpose of the Purchasing Card Sign Out Sheet

The purchasing card sign-out sheet at Ball State University is a formal document used to track the temporary assignment of the university's purchasing card, commonly known as the ProCard. This sheet serves multiple purposes:

• Control and Tracking: It helps ensure that only authorized personnel have access to the ProCard at any given time.
• Accountability: By recording who borrows the card, it establishes responsibility for any purchases made during that period.
• Audit Trail: The log provides a clear link between the card's usage and the individual cardholder, facilitating the reconciliation process.
• Compliance: It ensures adherence to university policies regarding the use of purchasing cards.

How to Use the Purchasing Card Sign Out Sheet

Using the purchasing card sign-out sheet involves a straightforward process that ensures all transactions are documented properly. Here is a step-by-step breakdown:

• Authorization: Employees must be authorized users of the ProCard and have a User Agreement on file.
• Signing Out: The card custodian records the employee's name, date, and time when the card is signed out.
• Making Purchases: The employee utilizes the ProCard for approved university purchases.
• Returning the Card: Upon returning the card, the custodian notes the return date and time in the log.
• Reconciliation: The custodian uses the sign-out sheet to reconcile the card's activity, ensuring all purchases are documented accurately.

Obtaining the Purchasing Card Sign Out Sheet

To obtain the purchasing card sign-out sheet at Ball State University, employees should follow these steps:

• Contact the Card Custodian: Reach out to the designated card custodian within your department.
• Request the Form: Ask for the latest version of the purchasing card sign-out sheet.
• Access Online Resources: Check the university's financial services website for downloadable versions of the form.

Filling Out the Purchasing Card Sign Out Sheet

Filling out the purchasing card sign-out sheet accurately is crucial for maintaining accountability. Here are the key sections to complete:

• Employee Information: Include the full name and department of the employee borrowing the card.
• Date and Time: Record the exact date and time when the card is signed out and returned.
• Purpose of Use: Specify the intended use of the card for transparency and compliance.
• Signature: The employee must sign the sheet to acknowledge receipt of the card.

Examples of Using the Purchasing Card Sign Out Sheet

Understanding practical scenarios can help clarify the use of the purchasing card sign-out sheet. Here are a few examples:

• Conference Attendance: An employee signs out the ProCard to cover registration fees and travel expenses for a university conference.
• Supplies Purchase: A staff member borrows the card to buy necessary supplies for an upcoming event, documenting the purpose on the sheet.
• Equipment Rental: An authorized user signs out the card to pay for renting equipment needed for a university project.

Key Elements of the Purchasing Card Sign Out Sheet

The purchasing card sign-out sheet contains several essential elements that ensure its effectiveness:

• Cardholder Information: Details about the employee using the card.
• Transaction Details: Information about the purchases made, including dates and amounts.
• Custodian Verification: A section for the card custodian to verify and sign off on the transaction.
• Compliance Acknowledgment: A statement confirming that the user understands the university's policies regarding card usage.

Legal Use of the Purchasing Card Sign Out Sheet

The purchasing card sign-out sheet must be used in accordance with university policies and legal requirements. Key considerations include:

• Authorized Use: Only employees with proper authorization can use the ProCard.
• Documentation: All purchases must be documented to ensure compliance with financial regulations.
• Retention of Records: The sign-out sheets should be retained for a specified period for audit purposes.

Why the Purchasing Card Sign Out Sheet is Important

The significance of the purchasing card sign-out sheet extends beyond mere documentation. It plays a vital role in:

• Financial Accountability: Ensures that all expenditures are accounted for and traceable.
• Policy Compliance: Supports adherence to university policies regarding spending and procurement.
• Fraud Prevention: Reduces the risk of misuse or fraudulent activities related to university funds.