| BRYN
MAWR COLLEGE
Office
of the Treasurer
COLLEGE CREDIT
CARD POLICY AND PROCEDURES
Purpose
There are two types of College credit cards: the VISA purchasing card
and the VISA corporate card. This policy pertains to the corporate card.
There is a separate policy for the purchasing card. The purpose of this
credit card policy and its guidelines is to:
- Define the policy pertaining to the use of the College credit card.
- Provide guidance
about the types of expenses that can be charged on the College credit
card.
- Describe each person’s
responsibility in reporting and documenting expenses charged to the
College credit card.
Receiving
a Credit Card
Staff members who travel frequently on College business can request a
College credit card by contacting the Purchasing Department..
Authorized
Use of the Credit Card
Credit card expenses are used primarily for travel expenses and shall
be used exclusively for college-related business. The types of travel
expenses that can be charged on the College corporate card are covered
in the College Travel Policy and Procedures
document.
Cardholder
and Supervisor Responsibilities
Each month, a statement is sent to cardholders which lists the monthly
expenses that were charged. Although the College credit card should only
be used for College-related business, there may be inadvertent personal
use of the College credit card. Therefore, cardholders must review the
statement and determine that all charges are legitimate College-related
expenses. Card holders should reimburse the College for any expenses which
are not related to College business by sending a check to the Comptroller’s
Office with a copy of the statement and an indication of the expense for
which the College is being reimbursed.
There
also may be expenses that were charged to the credit card by mistake or
due to fraudulent use of the card. These charges should be immediately
reported to the Comptroller’s Office. Cardholders should verify that the
credit card is in their possession at least monthly.
After
review, the cardholders shall submit the monthly credit card expenses
to their supervisors along with original sales documents (receipts, credit
card slips, etc.). The cardholder shall sign and date the statement certifying
that all expenses are for College-related business, are accurate, and
are reasonable expenditures. Charges for which there are no receipts may
be considered taxable income to the cardholders according to IRS regulations.
Supervisors
shall review and sign the monthly statement for the staff members they
supervise. The signature indicates that the purchases are approved, that
each cardholder was authorized to make the purchases, and that the purchases
were made in accordance with College policy. The signed statement should
be submitted to the Comptroller’s Office. Staff members who report to
the President shall submit their signed statements and receipts to the
Treasurer, and the Treasurer shall submit his or her statements and receipts
to the Comptroller.
Credit
Card Charges
Credit card charges are automatically deducted from a College bank account
each month. The Comptroller’s Office will charge all purchases for the
month to the employee’s primary operating account using budget object
52200. Budget supervisors are responsible for allocating all charges from
budget object 52200 to the appropriate category expense if this is not
the correct object. Budget supervisors should also transfer charges to
other departments (with appropriate authorization) if there is a charge
that should be shared by departments.
June
2000
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