Latest news with #P-Cards
Axios
24-06-2025
- Business
- Axios
Audit finds $5M in dubious Richmond credit card spending
The city of Richmond approved roughly $5 million in questionable purchases on employee credit cards over two years due to lax oversight, according to a just-released internal audit. Why it matters: That's roughly a quarter of all spending in the period through the city's Purchasing Card (P-Card) Program. The big picture: City auditor Riad Ali's report, published Tuesday, found "significant weaknesses" in the internal review process and general oversight of the P-Card program, which was started in 2018. That lack of oversight, coupled with "unclear policies, inadequate training and inconsistent enforcement," resulted in dozens of questionable purchases between July 2022 and May 2024, and the potential abuse of taxpayer money. The audit recommended ways to improve the program and noted that the Avula administration is already addressing issues, including by reducing the number of city-issued P-Cards from 320 to 67 in April. Zoom in: Here are some of the audit's most stunning findings. 😓 One city employee was responsible for approving more than 40,000 transactions in the two-year period, which led to "minimal review" due to competing job responsibilities. 👀 The city delayed deactivating cards of employees who stopped working there, and in some cases, former workers used their cards months later. 📱 Multiple departments spent around $2.4 million via third-party platforms, like PayPal and Venmo. 👔 One employee purchased a $480 suit to wear to court. 🍤 And our personal favorite: Of the $78,785 in "questionable food purchases" in the review, $19,648 was spent by the Department of Public Utilities on "large quantities" of food, "including ribs, turkey wings, ham, shrimp, and salmon," per the audit. The majority of those purchases were made by one employee at the Wastewater Treatment Plant. What we're watching: The city launched an online tracker last week so the public can follow along as it overhauls the P-Card program.
Yahoo
27-02-2025
- Business
- Yahoo
CSCU to launch new P-Card policy after audit revealed systematic misuse of funds
HARTFORD, Conn. (WTNH) — In the latest effort to bring more transparency and accountability to the Connecticut State Colleges and Universities system, a board has approved a new system-wide policy for purchasing cards, also known as P-Cards. In an announcement made Thursday, officials with CSCU said the Connecticut Board of Regents for Higher Education approved the new policy. Connecticut comptroller's college system audit reveals 'systematic' misuse of state funds Going into effect on April 1, the policy will establish clear guidelines for the use of P-Cards and appropriate use of institutional funds. This change was one of nearly a dozen proposed by Comptroller Sean Scanlon in December, when his office released an audit of CSCU that showed a systematic misuse of taxpayers' funds. In a statement released Thursday, Scanlon said the new P-Cards policy includes many of the recommendations proposed in his office's report- including standardized spending limits, improvements to recordkeeping, and restoring internal audits and controls. Connecticut state colleges see increase in student enrollment 'I applaud the Board of Regents, CSCU leadership, and staff who worked together in crafting this. The Office of the State Comptroller stands ready to support the implementation of this plan to restore trust for the taxpayers and, especially, CSCU faculty and students,' Scanlon said. The policy included spending limits, items prohibited from purchase, digital record-keeping, and a reduction of the number of P-cards. The CSCU system office is also working on a new system-wide policy for travel and has created a Policy Committee that will review, revise, recommend, and implement the Board of Regents' adopted system-wide policies to ensure consistency and compliance. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
