Comptroller Franchot Reports $5.6 Million Rebate from State Purchasing Card Program 

79 State Agencies Account for $274 Million in Small Purchase Buys

 ANNAPOLIS, Md. (June 10, 2015) — Comptroller Peter Franchot today announced that the State of Maryland has received a $5.6 million rebate from U.S. Bank. The rebate is the result of 79 state agencies spending more than $274 million on small purchases through Maryland’s Corporate Purchasing Card program for the period of April 26, 2014, through April 25, 2015.

“Taxpayers expect us to do everything we can to save them money and this is one way our office does that each and every day,” said Comptroller Franchot. “Maryland’s Corporate Purchasing Card program is an efficient and effective way for state agencies to make small purchases, to provide for better accountability and to allow vendors to receive payments in a timely manner.”

Under the program, the Comptroller’s Office issues one payment each month to U.S. Bank for all card purchases made during the previous month. Merchants are paid directly by VISA, usually within two business days of the purchase, which is much sooner than the typical 30-day payment cycle. U.S. Bank pays a rebate when the state reaches pre-set purchase volumes. This contract for Purchasing Card services was approved by the Board of Public Works in 2013 with the new vendor U.S. Bank at a higher rebate percentage than the previous contract.

The State of Maryland first began using the VISA corporate purchasing card program in March 1997. Since then, the state has purchased $3.5 billion worth of goods and services, while earning $45.6 million in rebates.

Media Contact: Michelle Byrnie-Parker 410-260-6346 (office), 443-336-0215 (cell)