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Financial Management Practice Manual

FMPM 420: Policy

Corporate Credit Cards

Intent

To set out the requirements relating to the establishment, approval, responsibility and management of corporate credit cards.

Scope

Function	Responsibility of
Establishment and review of corporate credit card arrangements	Executive Director, Finance and Resource Planning

Approval to hold a corporate credit card	Head of Organisational Unit
Responsibility for corporate credit card	Corporate Credit Cardholder
Suspension or cancellation of a corporate credit card	Head of Organisational Unit or Director, Financial and Business Services
Maintenance of a register of Corporate Credit Cardholders	Director,Financial and Business Services

Definitions (Related Glossary Terms)

Corporate Credit Card

Policy

Establishment and Review of Corporate Credit Card Arrangements

Subject to the approval of the Executive Director, Finance and Resource Planning, the University may establish corporate credit card arrangements with a major credit card provider/(s).
The corporate credit card arrangements must be periodically reviewed by the Executive Director, Finance and Resource Planning.
The corporate credit card arrangements entered into should:

allow individual monthly credit limits to be applied;
allow industry/merchant category blocks;
provide for security against unauthorised use;
not involve the University in any liability for unauthorised use of individual cards;
be in the name of the University;
have a direct debit facility for the automatic payment of monthly corporate credit card accounts in full; and
provide daily enhanced data feeds to the University’s Expense Management System (EMS) provider.

Approval to hold a Corporate Credit Card

An application for a corporate credit card must be approved by the applicant’s Head of Organisational Unit.

The Head of Organisational Unit must:

Ensure that the corporate credit card applicant:
- Isa continuing, fixed term or adjunct employee of the University; and
- occupies a position that:

has a regular and demonstrated need to purchase goods/services; and/or
is required to undertake international travel for University business; or
is required to undertake domestic travel for University business a minimum of three (3) times a year.

Determine the applicant’s authorised use of the corporate credit card for:
- Travel (refer FMPM Policy 740 and FMPM Procedure 741 – Travel); and/or
- General purchasing (refer FMPM Policy 710 – Purchasing and FMPM Procedure 711 – Procurement Manual).
Determine the:

Monthly spend limit for travel and /or purchasing transactions; and
Individual transaction limit where the credit card use is for general purchasing;

based on:

the anticipated expenditure required by the position held by the applicant within the Organisational Unit; and
FMPM APPENDIX A – Delegations Policy (Section 1.4).

Agree to underwrite any corporate credit card transactions incurred.

Review annually:

the need for the cardholder to retain a corporate credit card;
the delegation appropriate to the cardholder; and
the credit limits applying to the card.

Corporate Credit Cardholder Responsibilities

Subsequent to the Head of Organisational Unit approval to hold a corporate credit card, a card will be issued in accordance with FMPM Procedure 421 – Corporate Credit Cards.

Corporate credit cardholders are accountable for:

all transactions undertaken on the card;
the safe custody of the card;
ensuring all expenditure is for official University business purposes only and is in accordance with the following policies and procedures:

FMPM Procedure 421 – Corporate Credit Cards;
FMPM Policy 740 and FMPM Procedure 741 – Travel ;
FMPM Policy 710 – Purchasing and FMPM Procedure 711 – Procurement Manual ; and
any other relevant University policy and procedure.

The corporate credit card must not be used for any purpose that is of a personal or private nature.

Corporate credit card transactions must be acquitted in accordance with FMPM Procedure 421 - Corporate Credit Card.

The return of a corporate credit card must be in accordance with FMPM Procedure 421 - Corporate Credit Card.

Suspension or Cancellation of Corporate Credit Cards

A corporate credit card may be suspended or cancelled by the Head of Organisation Unit or the Director, Financial and Business Services in accordance with FMPM Procedure 421 –Corporate Credit Card .

Corporate Credit Card Register

The Director, Financial and Business Services is responsible for maintaining a Corporate Credit Card Register detailing:

the name of the corporate credit cardholder;
the monthly limit on the credit card; and
the transaction limit on the credit card (if purchasing delegation has been authorised).

Policy sponsor:	Executive Director, Finance and Resource Planning
Approval authority:	Finance Committee
Version no:	12-01
Date for next review:	11/2017

Version no.	Approval date	Date notification sent by Approval Authority to policy@jcu.edu.au	Implementation date	Details
12-01	13/11/2012		13/11/2012	Finance Committee (1/12)
11-01	18/08/2011		18/08/2011	Finance Committee (6/11)
01-09	23/2/2009		02/03/2009
08-1	13/11/2008		21/11/2008
07-2	15/11/07		12/12/07
07-1	08/03/2007		04/04/2007