Procurement Cards

Old Dominion University Research Foundation has implemented a procurement card program for researcher use on sponsored program, cost center and discretionary purchases. The purpose of this program is to afford authorized users greater flexibility in making small dollar procurements. The use of a procurement card will in no way change the required documentation for purchases or change any existing procurement policies. The single purchase limit on all credit card purchases is $2,000.

All purchases made with the procurement card are subject to the same guidelines as to reasonableness, allowability and allocability as any expenditure on a sponsored program. Therefore in order to qualify for a procurement card, an overhead, departmental or discretionary account will be designated to cover any unallowable or undocumented purchases made with an individual procurement card.

The guidelines for issuing a procurement card are as follows:

  • Cards will be issued with credit limits of $2,000 to $10,000
  • Requests for credit cards must be made via the Procurement Card Application to the Program Administrator at ODU Research Foundation indicating the name, department, location, dollar limit requested and account to guarantee card.
  • Guarantee accounts will be determined as follows: Discretionary accounts – minimum balance in account for six-month period prior to issuance must be greater than the requested credit limit. Departmental or Overhead accounts – minimum balance in account for six-month period prior to issuance must be greater than twenty percent (20%) of the total of all credit guarantees issued against the account. Pre-approval of Department Chair, Dean or Director required.
  • Approvals Required:

Discretionary Accounts – Principal investigator on account

Departmental / Overhead Accounts – Department Head or Director

  • Cards will be issued in individual cardholder’s name and distributed by the Program Administrator upon receipt of a duly executed ODU Research Foundation Procurement Card Agreement.

Additional terms and conditions governing the use of an ODU Research Foundation procurement card are:

  • Security and safekeeping of the card is the responsibility of the cardholder
  • Misuse of the card will result in forfeiture and possible payroll deduction of unaccountable expenditures.
  • Cardholder will receive a monthly statement from the issuing bank of a credit card activity.
  • Cardholder must provide ODU Research Foundation with a monthly settlement of the card activity designating the projects and object codes to be charged.
  • Appropriate supporting documentation in the form of original sales receipts, packing lists, credit card slips, etc is required.
  • Cardholder will attempt to resolve any billing disputes directly with the supplier.
  • Cardholder will surrender procurement card to ODU Research Foundation upon termination of employment.

Procurement cards require approximately two weeks to process, set-up and issue cards. To obtain an ODU Research Foundation procurement card, complete an application including any required approvals and forward to Dawn Hamilton at shamilto@odu.edu or mail to:

Procurement Card Administrator
Old Dominion University Research Foundation
P. O. Box 6369
Norfolk, Virginia 23508

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