50.I - Use of Credit Cards
Board Policy Code: 50.I
At the discretion of the president, employees and members of the Board of Education may use college authorized credit cards and credit accounts in the process of doing college business.
The chief financial officer, as directed and authorized by the president, may establish credit accounts in the college's name for doing college business.
Only authorized expenditures associated with college expenses may be purchased using credit cards. Using a credit card to secure cash is not an authorized use of college credit cards. Users of cards will save and submit receipts for verification and audit purposes.
If, for any reason, disallowed charges are not repaid, the college will have a prior lien against, and a right to withhold any or all funds payable, or to become payable to the employee up to the amount of the disallowed charges and interest at the same rate as charged the college.
The college does not intend to provide a college credit card to each employee who might incur college expenses, but may offer a credit card to employees where it would be in the best interest of the college to do so because of the cost-benefit relationship between usage of a college credit card, reviewing credit card purchases, and paying multiple credit card invoices compared to the cost of employee reimbursements. Because it is in the best interest of the college to reimburse college employees for travel expenses and purchases rather than issue credit cards to all employees, it is the intent of the college to reimburse for approved expenses without regard to the employee's form of payment (check, cash, or personal credit card). Any benefit received by an employee choosing to use a personal credit card for college expenses is considered incidental and is of no value to the college as the cost of monitoring and tracking frequent purchase programs is great compared with the potential value to be received.