PURPOSE AND SCOPE

To provide University employees direction on when and how to use the University credit card to purchase goods and/or services and provide the process for how to approve the credit card payment.

POLICY STATEMENT

The University has obtained one corporate credit card account that is to be used on a limited basis only for the procurement of goods or services when a vendor refuses to accept a purchase order or a vendor requires an advance deposit. Further, the card should only be used when the goods or services can not be obtained from another source in a cost effective and efficient manner.

REGULATIONS

1. Authorization

Use of the University credit card can only be authorized by the Vice President for Finance and Administration, the Associate Vice President for Financial and Administrative Affairs, or a delegate (usually the Director of Purchasing).

2. Allowable Use of University credit card

The University credit card may be used for any legitimate University expenditure. However, the card is to be used only on an exception basis and its use should be limited. The card should not be used to circumvent normal University business and procurement practices. It is not an acceptable practice to use the card because normal procurement practices were not completed in a timely manner.

3. University Credit Card Purchasing Request

Purchase requests must be sent to the Purchasing Office on a Direct Payment Voucher (DPV) with all required signatures and an explanation for the required use of the University credit card rather than standard University procurement practices. Following approval, the Purchasing Office will determine if the use of the University credit card is the best solution for obtaining the requested goods or services and will proceed in procuring the item(s) identified and approved on the DPV. Once the item(s) are procured, the Purchasing Department will mark the DPV with "Do Not Pay Vendor - Credit Card Purchase" and forward the DPV to the Accounts Payable (AP) supervisor.

4. Payment of Charges

All receipts or invoices obtained from goods or services obtained from the use of the University credit card must be forwarded by the individual or organization to the AP supervisor. The AP supervisor will review all charges included on the charge card billing statement to ascertain that the charges were authorized and matched with the appropriate DPV and accompanying receipts/invoices. The AP supervisor will process payment for the University credit card in a timely manner when the bill is received. In instances when credit card payment needs to be made before all accompanying paperwork is received or complete, the AP supervisor will charge expenditures that at the time of payment lack complete documentation to a holding account and will later request the appropriate adjusting entries to allocate the expenses to the appropriate departmental accounts.

QUESTIONS

Questions concerning this policy should be directed towards the Controller, extension 5143 or email Controller's Office

DISCLAIMER

The University reserves the right to modify or amend this policy at any time at its sole discretion. This policy remains in effect until such time as the Director of Financial Affairs/Controller's Office or University Officers call for a review. Requests for exception to any portion of these regulations or application of these regulations, but not to the policy, must be presented in writing to the Director of Financial Affairs/Controller's Office.