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(c)CMcGuireKSpr2011_0014

Credit Card Policies

Policy Statement
The College credit card program is intended to streamline and simplify purchasing and accounts payable functions. The College credit card is a tool that reduces transaction costs, facilitates timely acquisition of materials and supplies, automates data flow for accounting purposes and offers flexible controls to help ensure proper usage. The card may be used with any merchant who accepts Visa, either in-store, by phone, mail, fax or on-line, subject to the College's purchasing and travel policies.

Program Overview
The College credit card program is designed to complement existing purchasing processes including petty cash, check requests, and low dollar purchase orders. The College credit card program is not intended to avoid or bypass current payment procedures and purchasing policies. Proper documentation and record keeping is essential.

Definitions:

  • Cardholder - College employee whose name appears on the credit card and is accountable for all charges made and reporting and documentation associated with that card.
  • Department Liaison - Support staff that assists the Cardholder with the compilation and submission of credit card statements/expense reports
  • Cardholder Supervisor - The employee within each department who is responsible for reviewing the Cardholder's transactions and verifying that all charges associated with the credit card are supported by the appropriate documentation.

Credit Card: Cardholder Disciplinary Actions

The College will seek restitution for inappropriate or fraudulent charges. Misuse of the credit card will also result in revocation of the card and possible disciplinary action up to and including termination of employment from Kalamazoo College.  Employees who are found to have inappropriately used the College credit card will be required to reimburse the College for all costs associated with such improper use.  The College reserves the right to close a credit card account if a Cardholder (a) moves to a new position in which a card is not required; (b) terminates employment; or (c) for any of the following reasons which will also subject Cardholder to disciplinary action in accordance with Kalamazoo College policies and procedures relating to discipline:

  • The College credit card is used for unauthorized purposes.
  • The College credit card is used to purchase any substance, material, or service that violates policy, law, or regulation pertaining to Kalamazoo College.
  • The Cardholder allows the card to be used by another individual.
  • The Cardholder splits a purchase to circumvent the spending limits of the credit card.
  • The Cardholder uses another Cardholder’s card to circumvent the purchase limit assigned to either Cardholder or the limitations of the credit card.
  • The Cardholder fails to complete the online monthly reconciliation by the due date.
  • The Cardholder fails to provide, when requested, information about any specific purchase.
  • The Cardholder does not adhere to all College purchasing and travel policies.

Not Reviewed