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(c)CMcGuireKSpr2011_0079

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: Missing Documentation

Receipts are required for all transactions.  In the event that a receipt is lost, Cardholders should make every attempt to contact the vendor for a duplicate receipt.  If a duplicate receipt cannot be obtained, a Lost/Missing Receipt Form should be completed by the Cardholder and approved by the Vice President for their area. The Lost/Missing Receipt Form is to be used only in rare situations when a receipt cannot be obtained or replaced.   The College reserves the right to revoke College credit card privileges and may require the Cardholder to reimburse the College for the transaction in which a receipt cannot be produced.

Not Reviewed