Title
Resolution setting forth the Procurement Card (P-Card) Policy.
Staff Summary
• Lake County has had a procurement card program for several years, but there is a desire to formalize the program and establish the guidelines through this Procurement Card (P-Card) Policy.
• Procurement cards are a flexible purchasing method that reduces the length of time required to make a small dollar purchase, pay a vendor, and arrange for training and travel without having to rely on a personal credit card, travel advance, or reimbursement.
• There is a significantly more detailed Directive document that provides more specific requirements and guidelines for cardholders.
Body
RESOLUTION
WHEREAS, it is reasonable and prudent to review and update policies and procedures on a routine basis and update them as necessary; and
WHEREAS, a procurement card program has been in place for several years and it is prudent and necessary to establish a Procurement Card (P-Card) Policy to formalize the program and provide the guidelines and framework for the program; and
WHEREAS, the County Administrator and the Financial and Administrative Committee recommend the Procurement Card (P-Card) Policy set forth herein be utilized for prudent procurement and made part of the family of Finance Policies.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that the attached Procurement Card (P-Card) Policy is hereby adopted.
DATED at Waukegan, Illinois on November 15, 2022.