AGRICULTURAL FOUNDATION OF
CALIFORNIA STATE UNIVERSITY, FRESNO
Policy No. 4004
Credit Card Policy
This policy is applicable to the following auxiliary corporations:
Agricultural Foundation
Association
Associated Students, Inc.
Athletic Corporation
Agricultural Foundation
Programs for Children
REVISION RECORD
Date
Version
3/28/2008 Final
Revision Description
Approved by Board of Governors
DOCUMENT CONTROL
Approved By:
Date Approved:
Next Review Date:
Board of Governors
3/28/2008
January 2011
Responsible Position(s):
Affected Units:
Document Control Number:
Associate Vice President for Auxiliary Operations
All units of the Agricultural Foundation
Policy 4004
Credit Card Policy
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Agricultural Foundation of California State University, Fresno
PURPOSE
In the course of its business operations, the Ag Foundation may provide certain
full-time benefited employees who are employed by the University or the
Agricultural Foundation with a corporate credit card as needed according to
position responsibilities. A list of those employees with corporate credit cards will
be maintained by the CFO and a copy provided to the Auxiliary Director of
Human Resources. The credit card is to be used exclusively for Ag Foundation
business. To ensure proper fiscal accountability, the following rules have been
established for employee use of corporate credit cards.
Corporate credit cards are provided as a matter of convenience to facilitate the
payment of expenses incurred for Ag Foundation business purposes only. These
credit cards are not to be used for personal purchases of any kind. Violations of
this policy will result in loss of the privilege of having a corporate credit card.
REGULATIONS
DOCUMENTATION OF EXPENSES:
Documentation of Expenditures Policy.
Refer
to
the
Ag
Foundation’s
MAXIMUM INDIVIDUAL EXPENDITURE: Corporate credit cards may be used
for individual purchases up to $1,000. Purchases exceeding this amount must
have advance approval of the Executive Director prior to incurring the
expenditure.
PROCUREMENT: Credit cards should not be used to circumvent the normal
system of procurement as defined in the Ag Foundation’s Procurement Policy.
TRAVEL: For travel expenses, the American Express Corporate Card should be
used, or employees should obtain a travel advance, however in all instances the
Ag Foundation’s Travel Policy and Procedures should be followed.
CANCELLATION OF CARDS: Upon employee separation or termination of
employment, Human Resources will retrieve the credit card from the employee
and notify the Chief Financial Officer (CFO) who will immediately cancel the card
with the issuer.
REPORTING LOST OR STOLEN CARDS: The person to whom a credit card is
issued is responsible for its safekeeping. The loss of a credit card must be
immediately reported by the employee to the credit card issuer, the employee’s
immediate supervisor or unit director, and the CFO to ensure the card is
cancelled. The CFO will notify the credit card issuer of the loss of a credit card.
EXCEPTIONS: No exception may be made to this policy without the written
consent of the Executive Director.
Credit Card Policy
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Agricultural Foundation of California State University, Fresno
LATE FEES AND FINANCE CHARGES: It is the policy of the Ag Foundation
that payments should be processed in a timely manner so as not to incur late
fees or finance charges. Each employee who receives a monthly statement is
personally responsible for ensuring that the statements and the approved
authorization is received by the Ag Foundation’s Accounting Office at least 10
working days prior to the published payment due date. Repeated late fees or
finance charges on the account may result in the loss of the employee’s
corporate credit card privileges.
IMPLEMENTATION
The Associate Vice President for Auxiliary Operations and Enterprise
Development or his/her designee, in accordance with the applicable auxiliary
corporation Management Services Agreement, has the authority to implement
this policy.
Credit Card Policy
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Agricultural Foundation of California State University, Fresno