Anne Arundel County Earns Rebate by Spending Smart
Annapolis (June 26, 2008) - Anne Arundel County recently earned a $154,196.84 rebate through the Office of Central Services Procurement Card (pCard) Program in accordance with the provisions of its contract with US Bank. This rebate represents a 51% increase over last year's $102,042.79 rebate. The County’s rebate is based on three contractual components: total annual spend, transaction size and client held days. This year the County’s total pCard spending for the period of May 1, 2007 through April 30, 2008 was $18,098,221 up 28% from last year's total spending of $14,133,350. The average transaction amount was $287 up 21% from last year's $237 and the client held days (time to process the monthly invoice) was three days down from last year's six days. The pCard Program total spending of $18,098,221 represents approximately 6% of the almost $300 million annual purchasing activity in 2007.
"I am very pleased that the County is responsibly using procurement cards as a fiscally efficient and cost effective method for County agencies to secure small purchases," said County Executive John R. Leopold. "Through the successful facilitation of more than 65,000 transactions a year on the pCard, the County is realizing significant administrative cost savings in addition to increasing the annual rebate."
In addition to avoiding administrative costs, the County’s procurement cards also save time and labor required to procure small dollar value goods and services and enables vendors to be paid promptly. All of these are important components in operating an efficiently run government.
The County has a comprehensive policy and procedure governing pCard expenditures, purchasing approvals, and account reconciliation. Transactions are closely reviewed on monthly bases, and all spending is approved through each agency. Random audits are regularly conducted to ensure the County’s cardholders are adhering to policy and procedures and are spending responsibly.
For more information on Anne Arundel County’s Procurement Card Program please feel free to contact Jennifer Helmecki, Office of Central Services, (410) 222-7661 or at email@example.com.