Compliance Reviews and Audits
The Expense Report or Payment Card Internal Order Transaction Log, along with the supporting documentation, become the official records, and must be maintained in the department in accordance with their System Member's Record Retention Schedule. For Texas A&M University at Galveston, the Expense Report or Log and all supporting documentation will be the official record, and will be maintained in FMS in accordance with Texas A&M University at Galveston's Record Retention Schedule.
The records for the Payment Card purchases will be required when each system Member is audited by the Texas Building Procurement Commission and State Comptroller.
Audits may be made by System Internal Audit and other external entities (e.g. State of Texas Auditors, Public Accounting Offices).
Compliance Reviews may also be made by Financial Management Operations — Payment/Travel Card Office.
All documentation supporting the purchase including the reallocation, reconciliation and approval documentation must be kept according to the records retention period of 3 Fiscal Years plus the current Fiscal Year.