Monday, July 20, 2009

City's credit card rebate program saves big bucks

A city audit report on credit card spending says that a new corporate-wide credit card rebate program has saved The City of Calgary about $900,000 in the first 10 months of the credit card program being looked at in the audit.

As reported in the Calgary Herald, a shift to the corporate-wide credit card saw 150,000 transactions for more than $56 million worth of goods and services.

Additionally, according to The City's acting chief financial officer, Eric Sawyer, there has been no misuse from the almost 2,000 credit card-carrying employees.

There is however room for improvement according to the city auditor; more money could be saved if individuals purchased more goods from vendors with contracts with the city thereby receiving price advantages.

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