Home / Financial Policies / 2303.1 Use of a Purchasing Card - Gift and Endowment Funds

2303.1 Use of a Purchasing Card

Gift and Endowment Funds

Document purpose

To ensure purchasing card transactions are within the guidelines of the gift or endowment funds donor intention.

effective

July, 2006

revised

June, 2007

Reviewed

September, 2024

Responsible Office

Treasurer

Approval

Comptroller

Policy

  1. Additional School/Center Senior Financial Officer approval is required to use a gift or endowment fund as a default account for a Purchasing Card.  

    http://www.finance.upenn.edu/comptroller/forms/#Payroll  

  2. All purchases defaulting to a gift or endowment account must meet exclusive guidelines by the donor.  

  3. All restrictions and conditions by the donor must be monitored.  

  4. Documented monthly review must be performed on all charges to a gift or endowment account.  

  5. A purchasing card that defaults to a gift or endowment funds, should be used exclusively for that fund.