Corporate Credit Card Policy and Procedures

Usage Guidelines

Corporate credit cards are to be used for business related expenses only. Expenses must be for approved budget items; any items not budgeted must be authorized by your direct supervisor and/or Budget Owner before incurred on a corporate credit card.

Employees provided with corporate credit cards must charge all business-related expenses to their corporate credit card (unless AMEX is not an accepted payment method) and should only use Group Cards, as outlined below. All travel must be booked using the ACE Concur system and linked to your individual corporate credit card. For employees not provided with a corporate credit card, please see Group Cards below.

Employees may NOT take cash advances on corporate credit cards. Employees are responsible for all charges made to a corporate credit card and will be held liable for any unauthorized items appearing on a credit card statement.

Use of company-issued credit cards is a privilege that the College may withdraw at any time, with or without cause. Upon an employee’s termination of employment at the College, all cards must be returned to Finance. Any misuse of the card may lead to disciplinary action, up to and including termination of employment

Group Cards

Business Travel Account (BTA)-employees who do NOT have an individual corporate credit card use this card for airfare expenses and must reserve all air travel using the ACE Concur system.

Marketing’s card may only be used for non-travel, marketing related expenses made by team members who receive approval from the CMO.

Facilities’ card may only be used for non-travel, facilities related expenses made by team members who receive approval from the CFO.

Card Administration

Finance will administer corporate credit card accounts via AMEX @Work.

Finance will be the primary liaison with American Express on all matters regarding corporate card administration.

Please notify Finance of any cardholder changes (e.g., employment status, department change, address change, etc.).

If the Cardholder is voluntarily terminating employment, all expenditures on the card during the notice period must be authorized by their Approver as the expenditure occurs. It is the responsibility of the Cardholder and Approver to ensure that the card is returned to Finance and all transactions have been approved before the departure/termination date.

Processing Your Monthly Statement

Finance will email each cardholder and their immediate supervisor a monthly statement that includes each of the charges made to a corporate credit card. Cardholders may also access the monthly statement through the AMEX cardholder portal.

Submit your statement and the receipts for each of your statement expenses via the ACE Concur system; select “Company Paid”, as the Payment Method.

Finance will pay the corporate credit card balance each month based upon your approved ACE Concur expense report.

For Group Cards, Finance will reconcile and pay the balance each month; Group Card owners will receive the monthly statement and must review based upon Section 2 and Section 5.

Card Security

It is the Cardholder’s responsibility to ensure that the card is always kept in a safe place.

If the Cardholder notes any fraudulent or unauthorized transactions on a corporate credit card, please notify Finance immediately.

The employee in possession of the company credit card is solely responsible for all purchases on the card and for ensuring that the card is not used by unauthorized personnel. Individual corporate credit card numbers may not be shared; Group Card numbers may only be shared upon approval of the COO (Marketing) or CFO (BTA and Facilities).

If a corporate credit card is lost or stolen, the Cardholder must call American Express to report it immediately and then notify Finance.

Cardholders are required to formally Acknowledgment they understand and accept these terms.

General Spending Limits

Going forward, we will follow this matrix for approving invoices and signing contracts on behalf of the organization. 

(Note: for team members with corporate credit cards and for expense reimbursements, this is inherently built into the process, as the transactions on each card are reviewed/approved by various leaders, and the finance team will review/approve all transactions over $10K).