Credit Card Use Policy

Conditions of Use of the Card

• The Corporate Credit Card issued by the Colleges shall be used only for the official business of the Colleges; and
• the Corporate Credit Card shall not, under any circumstance, be used for personal transactions, nor shall the card be used to obtain cash advances.

   

Card Holder Responsibilities

• Ensuring that the Card is used appropriately for business-related expenses of the Colleges and the Cardholder is responsible for all charges placed against their Credit Card;
• ensuring that the Card number, security number and PIN are not made known to any other person; and
• the Card shall only be used for approved budgeted expenses except for those approved by the Chief Operations Officer.
   

Lost Cards

If a Corporate Credit Card is lost or stolen, the Card Holder shall:

• notify the bank that issued the card immediately;
• notify the Chief Operations Officer and Finance Clerk immediately;
• if the card is believed or known to be stolen, notify the police;
• make a written record of all communications and actions taken throughout the process of speaking with the issuing bank, the police and appropriate College personnel, including who the Card Holder spoke with, the date and time of the conversation(s), the context of the conversation(s) and any follow up items.

The Chief Operations Officer and/or Finance Officer shall be responsible to undertake any necessary interventions regarding the credit cards issued to other authorised Card Holders.
 

Return of the Card

On ceasing employment, or when requested to do so, the Card Holder shall return any Corporate Credit Card issued by the Colleges immediately.

Provision of Receipts/tax invoices

On receipt of the monthly statement the Cardholder shall:

• check each transaction for accuracy, enter the appropriate entity, cost centre, project code, campus and expense type against each item and include a full description of the goods/service in the business purpose field;
• complete a missing receipt affidavit/statutory declaration when an invoice/receipt has been lost and cannot be replaced by the supplier;
• attach all invoices/receipts and other necessary documentation to the transactions;
• complete the credit provider's Disputed Transaction form if an unidentified transaction appears, identify the transaction using the 'disputed corporate card transactions' and e-mail a copy to [email address]; and
• submit the documents to the Finance Manager.

Cancellation of Corporate Credit Cards

• The Cardholder ceases employment with the College;

• the Cardholder no longer requires the Card because of a change of duties or positions;
• the Cardholder is taking an extended period of absence of three months or more;
• the Cardholder fails to comply with any of the College’s policies or procedures relating to the use of the Card;
• requested to do so by the Chief Operations Officer;
• the Card has not been used for more than twelve months. 

Misuse

• Misuse of the Credit Card is a serious matter and may constitute a breach of this policy;
• where misuse of the Credit Card is found to be intentional and with disregard to this policy and any prior warnings, such action may constitute fraud. In such cases, the College will suspend/cancel the Credit Card and take appropriate disciplinary action  
• it is a principle of the Colleges not to accept any level of fraud. It is a requirement that any fraud, or suspicion of fraud, is reported so that appropriate investigations and subsequent actions are carried out  
• any misuse of the Credit Card must be reported, investigated and dealt with by the appropriate College representative. Disciplinary action against the Cardholder includes, and is not limited to, a warning, full recovery of monies, criminal proceedings, suspension or termination of duties, or any other direction at the discretion of the appropriate College representative

Delegations

• All the Colleges’ credit card transactions and supporting invoices must be reviewed monthly by the Chief Operations Officer
• all new Cardholders must be approved by the Audit and Risk Committee.

Training/Implementation

All current Credit Cardholders and new Cardholders are to be given a copy of the policy, including when it is revised and asked to sign a form stating that they have received, read and understood the policy.

Any questions regarding the use of the Colleges’ Credit Cards are to be directed to the Finance Manager.