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Policy 3.2.3

Policy 3.2.3

SUBJECT: CREDIT CARDS

Purchase by Credit Card - All purchases must be authorized by either a Requisition or Travel Request Form before the purchase is made. Upon authorization, it is preferable that billing for purchases be submitted by the vendor. In instances when a personal credit card is used to make the approved purchase, the requester will submit receipts and receive reimbursement from the university. Approved requisitions must be used to exempt purchases from sales tax (policy 3.1.5). If the requester is unable to utilize a personal credit card, a university credit card may be used. The method of payment must be designated on the request form.

Purchases made with a credit card without appropriate authorization are the responsibility of the purchaser. If a university credit card account is used without authorization, the charge will be denied to the credit card company, a charge back issued to the vendor, and the vendor instructed to collect from the purchaser. If a charge back to the vendor is inappropriate, the charge may be posted to the purchaser's account and collected through payroll deduction.

Credit Card in Use - The university provides general purpose credit cards and gas credit cards. To receive a gas tax credit, gas for university vehicles must be purchased with the approved gas card.

Issuance of University Credit Card - Credit cards, except gas cards, are issued from the business office. Upon the submission of an approved Transportation Request Form (policy 5.3.2, attachment A), gas credit cards are issued along with the keys to a university vehicle. Vehicle keys, vehicle report, gas credit card, and charge slips must be returned as a unit immediately upon return.

General purpose credit cards are available for check out by faculty and staff upon the submission of an approved requisition or Travel Request Form. Student workers may not be sent to check out credit cards. The card must be returned along with copies of the charge slips bearing the signature of the purchaser as soon as the purchase or trip is complete. Payment of credit card billings are dependent upon approved copies of the charge slips. Failure to return the card and/or copies of charge slips in a timely fashion will result in the forfeiture of privilege to utilize university credit cards.

Issuance of Personalized University Credit Card- In instances where it is more efficient for an account to be established in the name of an individual, personal university credit cards may be issued. All purchases must be pre-authorized, and receipts must be submitted monthly with the reconciled credit card statement. A limited number of personalized cards are available. Individuals must request a personalized card through normal requisitioning procedures.

Procedures for the Reconciliation of Personal Credit Card Statements - To ensure that the card holder has proper control of and responsibility for the reconciliation of credit card statements and that the business office receives necessary information and authorization to make payments on a timely basis, the following procedures will be observed. Failure to adhere to defined procedures will result in the forfeiture of privilege to possess a personalized credit card or to utilize university credit cards.

1. The university post office will send all mail identified as credit card statements to the business office, regardless of the addressee.
2. A copy of each statement will be sent to the cardholder the same day the statement is received in the business office. Copies will be faxed to executive directors/campus deans.
3. If an original statement is sent directly to the card holder, the card holder will notify persons in the business office, and then reconcile the original statement as described in the remainder of these procedures.
4. As credit card purchases are made, the cardholder will retain charge slips and copies of authorizing requisitions or travel forms for use in reconciling the monthly credit card statement. When travel report forms are submitted, charged amounts are reported, but charge slips are retained for submission with the reconciled statement.
5. The card holder, upon receiving a copy of the credit card statement, will verify each charge, attach the charge slip(s) and copy(s) of the authorizing requisition/travel form to the statement, and return these documents to the business office immediately. If a merchant delays in submitting a charge slip to the bank, and the purchase does not appear on the statement, the card holder will retain the charge slip for that purchase until it appears on a subsequent credit card statement. If a charge is erroneous, the cardholder will indicate the nature of the problem on the statement (or an attached page) and payment will be withheld for that portion of the statement.
6. In order to permit the payment of credit card statements by due dates, card holders will submit reconciliations immediately upon receipt of the credit card statement. Delays cause late payment of credit card billings, resulting in an invalid card, and vendors will refuse the credit card until payment is current. Payment will be mailed on the next check run date after the business office receives the reconciled statement.

Contact for Interpretation: Chief Financial Officer

This policy statement supersedes all previous policy statements on this subject.

Revisions:

-   08/14/2017 - Revision-title change


-   01/19/2009 - Review

-   03/26/2007 - Review

-   09/01/2006 - Revision

-   08/15/2004 - Revision

-   10/01/2003 - Revision

-   09/15/2001 - Reissued as policy 3.2.3

-   09/15/2001 - Revision

-   12/13/1994 - Inception as policy 3.2.2

Printable Policy 3.2.3

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