Policies + Procedures — Administration — Use of College Credit Card

6.8 Use of College Credit Card

I. Purpose

To establish policies to ensure that college credit cards are used solely for the official business of the college and not for personal or other improper use.

II. Scope

This policy applies to all employees who are issued a college credit card and to all employees who process payments for college credit card transactions.

III. General

Authority

The Vice President of Administration/CFO serves as Card Administrator and is responsible for the issuance of college credit cards to officers and employees of the college and shall account, monitor, retrieve and oversee compliance with this policy.

As Card Administrator, the Vice President of Administration/CFO or designee is authorized to review credit card purchasing activity to ensure compliance with this policy. The Vice President of Administration is authorized to suspend the credit card privileges of any cardholder who is deemed to be in violation of this policy.

Appropriate Use

The use of a college credit card is designed to facilitate transactions in the following situations.

By the Purchasing department only:

When the purchase cannot be made via the standard requisition/purchase order/invoice procedure, including the use of the college group-purchasing contract, because the vendor will only accept a credit card.
When the vendor offers a considerable price discount for using a credit card.

By all other card holders:

All travel on college business, including conference and team travel.
Pre-approved membership fees and college affiliation dues.
Other items as approved by the area dean or executive director.

The card cannot be used for purchases that require a quote or bid or a college inventory asset tag, namely equipment, furniture or computer/system components with a price equal to the asset capitalization level in place at the college. In such instances, the transaction should be completed through the Purchasing department.

General

Cabinet level approval must be obtained in order to issue a college credit card. After proper approval, requests will be submitted to the Card Administrator.
The card user is responsible for all charges made to the card and will be required to sign the Cardholder Agreement acknowledging his liability for any unauthorized charges.
All credit card transactions must be processed in accordance with the established policies and procedures for purchasing and travel reimbursement.
Credit limits for individual cardholders will be set by the Card Administrator.
The maximum credit card transaction limit is $5,000. The Card Administrator must approve any changes to the card transaction limit.
All credit card transactions must be made for the use and benefit of the college. Personal purchases are not permitted in any circumstances.
As an authorized agent of the college, the cardholder is responsible for the proper use, protection and custody of the card.
It is the cardholder’s responsibility to maintain required documentation for all transactions and submit monthly requests for payment with expense reconciliations to Accounts Payable. All submitted requests for payments require the approval signature of the credit card holder’s immediate supervisor and must be submitted within the period designated by Accounts Payable.
Violators of this policy will be subject to disciplinary action, in accordance with college policy, up to and including discharge.
Fraudulent or deliberately deceitful use of the credit card will result in disciplinary or legal action being taken in accordance with college policy.
Cardholder shall return the credit card immediately upon termination of their employment and/or resignation, or transfer to a position that does not have credit card privileges.

IV. Restrictions

Use of a college credit is prohibited for the following:

Personal use
Cash advances
Products or services that require Board of Trustee approval
Alcoholic beverages such as beer, wine or spirits
Consulting Services
Gifts and donations
Purchases utilizing electronic payment systems, such as, but not limited to PayPal and eBay, without prior approval of the Card Administrator.
Purchases with a unit cost of $5,000 or more
Payments for goods or services to an individual
Purchases from Foreign Visitors, Non-Resident Alien (payments to or on behalf of a foreign visitor).