Always refer to the online PCard Reference Guide for assistance - Reconciliation Section
INCREASE TO OCO DOLLAR LIMIT
The Florida Board of Governors recently approved Regulation 9.0031, which increased the threshold for tangible property from $1,000 to $5,000. Examples of tangible property include equipment, furniture and computers (see Procurement Definitions). These items are commonly referred to as Operating Capital Outlay (OCO).
Effective July 1, 2011, only those tangible property items cosing $5,000 or more are required to be capitalized in UWF's property records. the UWF Property Manual will be revised to comply with new regulation.
If you have questions, please feel free to contact Billy Pollard at firstname.lastname@example.org or Doyle Pitts at email@example.com.
DEFINITION OF OCO
OCO is the acronym for Operating Capital Outlay. It can be confusing at times to remember the difference between Expense and OCO. However, the secret to understanding OCO is that it pertains to one individual item OR a unit (system) made up of items that cannot stand on their own (i.e. u-shaped workstation).
Since the OCO limit has been increased from $1,000 to $5,000 effective July 1, 2011, it would mean if an item or a unit (system) costing $5,000 or more was purchased it would be OCO. If you purchased ten laptops costing $500 each and the grand total of the purchase was $5,000, it would be expense; OR, if 20 chairs at $300 each were purchased and the grand total was $6,000, it would be expense.
Services are never categorized as OCO.
The definition of OCO is:
CHANGES TO ONLINE PCARD REFERENCE GUIDE
The online PCard Reference Guide is updated and changed OFTEN. It is highly recommended that the online PCard Reference Guide NOT be printed. It would be more efficient to reference the Guide located on Procurement's internal web page to guarantee having the most current, up-to-date information.
COMPUTER PURCHASES WITH PCARD
The ITS Help Desk must reveiw and approve all computer and touch screen tablet computer (i.e. iPad, TouchPad, etc.) quotes prior to the purchase. See "How to Buy a Computer". ITS written approval must be attached to the PCard approval backup documentation. The Commodity/Account Codes used for expense computers that cost less than $5,000 each and touch screen tablet computers (i.e. iPad, TouchPad, etc.) are as follows:
|00020400||Computer Hardware & Peripherals||70356|
|00020600||Computer Hrdwr Peripherals-Mini-Main Frame||70356|
|EXP20400||Computer and Peripherals||70356|
|EXP20453||Microcomputers-Desktop or Tower||70356|
|EXP20456||Touch Screen Tablet Computer||70356|
Note: e-book readers (i.e. Nook, Kindle) do NOT require prior ITS written approval.
Please use following Commodity/Account Codes for e-book readers:
The online PCard Reference Guide has been updated to reflect this information - see PCard Reference Guide (under "Gasoline for State and Rental Vehilces").
PCARD VENDOR REGISTRATION - WHEN DO I ENTER THE PCARD VENDOR?
After the first PCard charge approval email is received by Account/Business Managers and Cardholders, THEN enter the PCard Vendor at the new online PCard Vendor Registration Page. The auto-email sent out to Managers and Cardholder states the charge has posted and the manager has 14 days within which to approve the charge. Please do NOT enter the PCard Vendor until the auto-email has been received.
Since Managers now have 14 days within which to approve the PCard charge, there is ample time for the new PCard Vendor to be entered into Banner.
If you have any questions, please call Candace Perez, Ext. 2630 (firstname.lastname@example.org).
CHANGES TO COMMODITY AND ACCOUNT CODES
New Commodity Codes are created as needed and existing Commodity Codes can be changed or deactivated. If a changed Commodity/Account Code is used, it may require a JT (Journal Transfer) to be processed to correct the coding. To avoid budget posting errors and additional processing of JT's, it is highly recommended that the Commodity/Account Code Report (Information Navigator Report Number PROC000035) NOT be printed and used as a daily reference. It would be more efficient to reference the Commodity/Account Code Report located in Information Navigator as needed to guarantee the Codes used are correct.
All vehicle/vessel registrations are signed by Procurement and Contracts. All questions regarding vehicle/vessel registration should be directed to Ms. Frankie Carlson, Ext. 2907, email@example.com.
COMING SOON - STAPLES
Procurement will soon be adding Staples as a Florida State Contract providor for office supplies. Departments will be able to order office supplies from any of the three providors on Florida State Contract: Office Depot, Gulf Coast Office Products (GCOP), or Staples. PCard holder webinar training sessions on how to order supplies using StaplesLink.com will be held:
Instructions to join the online training sessions will be sent to PCard holders via GroupMail.