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K. Government-wide Commercial Purchase Card - The Purchase Card is used as a simple method to spend funds in the acquisition of goods and services. It is similar in nature to a commercial credit card and is issued to authorized agency personnel. The card is distinct from the Government Travel Card.
Purchasing card. A purchasing card (also abbreviated as PCard, P-Card, or ProCard) is a form of company charge card that allows goods and services to be procured without using a traditional purchasing process. In the UK, purchasing cards are usually referred to as procurement cards. Purchasing Cards are usually issued to employees who are ...
Purchase Charge Card use as the procurement and payment tool for micro-purchases is defined in FAR 13.2. Micro-purchase means an acquisition of supplies or services in which the aggregate amount does not exceed $3,000, except in the case of construction where the limit is $2,000. The Purchase Charge Card may be used as an ordering and payment ...
Chase branches in the contiguous U.S. in 2020. The company also operates in Hawaii (not shown on the map).. JPMorgan Chase Bank, N.A., doing business as Chase, is an American national bank headquartered in New York City that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and financial services holding company, JPMorgan Chase.
J.P. Morgan & Co. J.P. Morgan & Co. is an American financial institution specialized in investment banking, asset management and private banking founded by financier J. P. Morgan in 1871. Through a series of mergers and acquisitions, the company is now a subsidiary of JPMorgan Chase, one of the largest banking institutions in the world.
The purpose of this report is to inform you of the results of the Office of Inspector General’s (OIG) risk assessment of the Department of Education’s (Department) Purchase Card Program, as required by the Government Charge Card Abuse Prevention Act of 2012 (Charge Card Act), Public Law 112-194. Our objective was to analyze the risk of ...
of purchase cards. OCFO Contracts and Acquisitions Management (CAM) oversees the purchase card program within the Department. Purchase card spending totaled $3,202,581 in fiscal year (FY) 2016 and $956,157 was spent in the first two quarters of FY 2017. As of the second quarter of FY 2017, there were 87 active purchase card accounts.
The Department’s purchase card program does not pose a high risk to the Department and an audit of the program is not necessary. We found that the Department has policies and procedures in place that address the applicable purchase card internal control requirements identified in the Charge Card Act and related Office of Management and Budget (OMB) guidance.