County Executive Leopold Reports $200K Rebate Resulting from Smart Use of Procurement Cards
Total is up 27 percent compared to last year
Annapolis (July 9, 2009) - County Executive John R. Leopold today reported that by simply using Procurement Cards for purchases, employees have saved nearly $200,000 in taxpayer dollars.
"I am very pleased that County employees are responsibly using procurement cards as a fiscally efficient and cost-effective method to make small purchases," County Executive Leopold said. "Procurement card use benefits both parties. The County secures goods and services quickly and our vendors are paid promptly at the point of sale."
Anne Arundel County has earned a $196,215.23 rebate through the Office of Central Services’ Procurement Card Program in accordance with the provisions of its contract with US Bank. This rebate represents a 27% increase over last year's $154,196.84 rebate. The rebate is based on three contractual components: total annual spending, transaction size and client held days. This year the County’s total card spending was almost $21 million, up 16% from last year.
"The County has a comprehensive policy and procedure governing Procurement Card expenditures, purchasing approvals and account reconciliation," County Executive Leopold said. "Transactions are closely reviewed every month and all spending is approved through each agency. Random audits are regularly conducted to ensure that cardholders are adhering to policies and procedures."