COUNTY PRESS RELEASE:
COURT HOUSE – Cape May County Freeholders received a cash rebate in the amount of $50,645.80 from Bank of America at their meeting held on June 23, 2009. The rebate is a result of the county’s Purchasing or P-Card Program. This year’s rebate was based on a total volume of $4,965,274.51.
The County began using the P-Card in February of 2005 with an initial group of 9 card holders; currently there are over 150 users. In addition to all the other benefits and efficiencies of using the P-Card, the county earns cash rebates annually for meeting certain spending thresholds. It is estimated that the County saves approximately $1.4 million annually by using the P-Card.
The P-Card system operates similar to a credit card. County departments purchase supplies and services with the P-Card. By using the card, the processing requirements are reduced to a fraction of the time. Treasurer Ed Grant said, “Additionally, there are spending safeguards that limit the amount and frequency of activity and safeguards that limit items purchased on each card. All of this is done on an internet based program which allows all activity to be monitored by multiple departments on a 24/7 basis.”
Freeholder Director Dan Beyel said, “The advantages, in addition to the savings and rebates, are that the P-Card helps to streamline the process, cut red tape and improve accountability.”
Other than State Government, Cape May County is still the only county using the P-Card. The City of Ocean City recently implemented their P-Card program and will receive a $300 rebate this year.
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