Spending Limits and Guidelines
- $2,500.00 is the default limit per transaction. The default monthly limit per card is $10,000.00.
- Single purchases cannot be divided to circumvent the $2,500 limit per transaction. This type of process is called a “split transaction” and is a violation.
- There is no annual limit; therefore, reconciling your monthly statement to PeopleSoft Financials is essential for budget control.
- Purchasing will periodically monitor spending patterns with vendors to determine where contracts need to be established.
Monthly and transaction limits may be increased either on a temporary or permanent basis. Limits must be approved by the Department Chair or Director based on budget considerations.
It is important to remember that University funds will be committed each time the card is used.