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FIN-0210 Purchasing Cards

Description

Consists of records supporting payments made with purchasing cards including invoices and supporting documents, reconciliations, travel requests, expense reports, purchase orders and journal vouchers.

Retention Trigger

End of Fiscal Year

Retention

7 years

Responsible Unit(s)

Originating Unit (cardholder)

Source

Records System

Banner, FAST Purchasing Card Module, Concur

Citations

Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.) s.230 (4)(b)

Procurement of Goods and Services - Procedures

Record Authority

Chief Financial Officer

Disposition

Secure Destruction

Records Arising from Activity
  • Journal Vouchers – User
  • Invoices & Supporting Docs
  • Travel Advances
  • Credit Card Statement (PCard, Concur)

Retention Rationale:

All documents associated with the purchasing card must be retained for a period of seven years to support potential audit of transactions by fund agencies or sources. Transaction records may be requested at any time by Accounts Payable, Procurement manager, supervisor, and internal or external auditors for examination. Any exceptions to these guidelines shall be documented and must be approved by the CFO and the manager of Procurement.

Personal Information

Vital Record

Protection

Medium