In order to provide an efficient, cost-effective method of paying for College-related travel and other appropriate College expenses, the College maintains a corporate credit card. The Vice President of Finance or the Assistant Vice President of Finance is authorized to open, close or make changes to the overall corporate credit card account and overall spending limit. The Vice President of Finance or the Assistant Vice President of Finance is also authorized to approve the issuance of corporate credit cards to employees, including the establishment of individual card limits. Employee cardholders are required to sign a “cardholder agreement” and abide by all procedures set forth herein. Being a DACC cardholder is a special privilege and along with the College’s Corporate Credit Card Policies and Procedures document, the employee needs to abide by the following:

Policies

1. DACC will issue a corporate credit card to eligible employees for job-related expenses.
2. Employees shall use their DACC credit card to charge business-related expenses only. The use of the DACC credit card is restricted to purchases where following the established purchasing process is not feasible. An example would be business related expenses incurred while traveling or after hours emergencies. Routine purchases for equipment, supplies, services or other materials should be done utilizing established purchasing protocols.
3. Personal purchases of any type are prohibited.
4. No alcoholic beverages may be purchased with the DACC credit card unless approved by the President for special events.
5. Employees may NOT take cash advances on credit card.
6. The employee is responsible for all charges made to the card, and obtaining receipt, invoice or other supporting documentation.
7. The employee will be personally liable for any unauthorized items appearing on the credit card statement.
8. Cardholders are required to sign the “cardholder agreement” indicating they accept these terms.
9. Although the credit card is issued in the employee’s name, along with DACC, it is a DACC credit card and can only be used for expenses relating to College business. The employee must sign the back of the card, and is responsible for the card’s security and the transactions made with the card.
10. Individuals who do not adhere to these policies as well as the procedures set forth herein risk revocation of their credit card privileges and/or disciplinary action.

Procedures

1. The Vice President of Finance or the Assistant Vice President of Finance is responsible for authorizing the use of DACC credit cards and assigning the credit limit.
2. An employee receiving a DACC credit card will be required to sign any required documents from the issuing financial institution.
3. Before any purchase is made, the employee should verify that the funds are available in the applicable budget to cover the expense.
4. The employee may use the credit card for College-related travel and other business expenses at any location that accepts VISA.
5. The employee must obtain a receipt for the purchase and is responsible for obtaining an itemized receipt for all transactions. For example, a hotel receipt should list the room charge, taxes and fees, and any other charges separately rather than a total charge.
6. In the case of meals attended by more than 1 person, each receipt should include the names of the individuals present, their business relationship, and the business purpose. This is in accordance with Internal Revenue Service regulations.
7. Upon receipt of the credit card statement, the employee will match the receipts to the individual items on the statement and assign the appropriate account code. The statement, along with a Request for Payment form, should be submitted through the normal authorization process. These are due to Accounts Payable no later than 10 days after statement receipt. Accounts Payable will review and process the bill for payment. If there is a discrepancy, the cardholder will be contacted for resolution. If there is a disputed amount, the Purchasing Coordinator will contact the card issuer (i.e. EPFCU) to dispute the charge.
8. The employee issued the credit card is responsible for its protection and custody and shall immediately notify the Purchasing Coordinator if the credit card is lost, stolen, or the subject of suspected credit card fraud.
9. The credit card must be returned to the Vice President of Finance or the Assistant Vice President of Finance upon termination of employment. The Treasurer will notify the card issuer to cancel the employee’s account.