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Kalamazoo College
(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: Administration by Business Office

Business Office Administrative Responsibilities

  • Assists the cardholder with administrative tasks related to the card:
    • Reviews and verifies the vendor receipts to ensure that they match the transactions listed on the individual statement.
    • Verifies appropriate expense allocations so that each purchase transaction has the correct accounting information and a specific business purpose for each item.
  • Attempts to resolve any disputes with vendor and/or PNC not resolved by Cardholder.
  • Assists Cardholders with erroneous declines and emergency transactions after they have contacted PNC directly.
  • Downloads monthly credit card charges to Colleague.
  • Activate/Deactivates credit card.
  • Provides all credit card online program administrative maintenance.
  • Provides training to cardholders.
  • Audits credit card use and charges with regard to compliance with credit card and College policies.

Not Reviewed