County Executive Leopold Announces Rebate of $200,000 for Credit Card Purchases
Responsible use of cards pays dividends
Annapolis (September 1, 2010) - County Executive John R. Leopold announced today that the County has received a significant rebate from U.S. Bank for the most recent period of government-issued procurement card bills.
"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 is a win-win proposition with strict rules in place. The County can secure goods and services quickly, and our vendors are paid promptly at the point of sale."
Anne Arundel County earned a $192,612.44 rebate through the Office of Central Services’ Procurement Card Program in accordance with the provisions of its contract with US Bank. The County’s rebate is based on three contractual components: total annual spent, transaction size and client held days. This year the County’s total spending for the period of May 1, 2009 through April 30, 2010 was $20,253,674.55. The average transaction amount was $334 and the time to process the monthly invoice was three client held days.
The County has a comprehensive policy and procedure governing credit card expenditures, purchasing approvals and account reconciliation. Transactions are closely reviewed every month, and all spending is approved through each agency. Random audits are regularly conducted to ensure that County’s cardholders are adhering to policy and procedures and are spending responsibly.