Employment Policy: Corporate Credit Card

Revised Date Issued:  May 8, 2006

I. Policy

Trinity College has a Corporate Credit Card program to provide a convenient method of payment for business expenses and to reduce the need for administration of travel advances.  In addition, individuals also enjoy special services from the card, such as additional travel insurance coverage, check cashing privileges and baggage insurance.  The Corporate Cards are not to be used for personal purchases under any circumstances.  Use of the Corporate Card for personal reasons will result in immediate forfeiture of the card.  Because the college remains ultimately liable for the charges on each Corporate Card, the Business Office will review the balances on the Corporate Cards to ensure that there are no unpaid balances due.  Failure of the cardholder to pay the statement balance each month will result in forfeiture of the Corporate Card and garnishment of wages for the balance paid by the college. Employees that require the Corporate Credit Card program must first be approved by the Vice President of Financial Affairs.

II. Procedures

• The Corporate Card, although issued through the college, functions in the same way as any other personal credit card.  You are personally responsible for paying all charges which appear on each monthly statement in a timely manner.
  
  In addition, each employee with a Corporate Card must sign a Payroll Deduction Authorization Form.  This states that you are personally responsible for any charges on the card and the college may recoup any losses they incur through payroll deductions.

• To receive reimbursement from the college for business expenses charged to the Corporate Card, the employees must submit timely expense reports to the Business Office.
   
  • A Travel Expense Form must be completed and submitted it, along with all required original receipts, (do not include the monthly statement as the receipt), to your supervisor for approval.   To be reimbursed, all charges must be supported by receipts.  The approved Travel Expense Form must then be to the Business Office for payment.
     
  • If you submit your Travel Expense Form by Wednesday noon, you will normally receive your check the following Friday after 4 O’clock.
     
  • In order to ensure that you are reimbursed prior to receiving your monthly statement, do not wait until you receive your monthly statement to submit your expense report.
     
  • It remains the cardholder’s responsibility to reconcile their monthly card statement and their requested reimbursements.
     
• A monthly statement is mailed directly to you and you are personally responsible for its prompt payment.  The college will reimburse you, through the travel reimbursement process, for any charges incurred while on college business. 

All charges, including any late fees, are your responsibility to pay directly to the credit card company.

• The Corporate Card is the property of the college.  When you terminate your employment with the college you must return the Card.
   
  • Cut the Corporate Card in half, turn it in to your supervisor and clear your Corporate Card account.
     
  • These actions must occur before you receive your final paycheck.
     
• If the college is held liable for Corporate Card charges incurred after an employee is no longer in the service of the college, the department that employed the worker will be responsible for paying those charges.