State gets $5.6 million in purchasing rebates
Maryland Comptroller Peter Franchot (D) announced recently that the state has received a $5.6 million rebate from U.S. Bank, the result of 78 state agencies spending more than $273 million on small purchases through Maryland’s Corporate Purchasing Card program.
“This is just one of the many ways our office saves taxpayers money each and every day,” Franchot said in a press release. “This program is an effective way for state agencies to make small purchases, provide for better accountability and allow vendors to receive payments in a timely manner.”
The current contract for purchasing card services was approved by the Board of Public Works in 2013, with U.S. Bank delivering a higher rebate percentage than the previous vendor. The current rebate covers purchases made from April 2015 through this April.
The state began using a corporate purchasing card program in March 1997. Since then, the state has purchased $3.8 billion in goods and services, while receiving $51.2 million in rebates.