FMPM 420 - Corporate Credit Cards

FMPM 420 - Corporate Credit Cards

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Financial Management Practice Manual

FMPM 420: Policy

Corporate Credit Cards and Expense Reimbursements

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

Deputy Vice Chancellor, Services and Resources

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

Manager, Strategic Procure to Pay

Definitions

Corporate Credit Card - is a credit card issued for University purposes and its use is subject to relevant authorities, approval rules, delegations and account expenditures being in accordance with University policy and procedure. It is distinguishable by the imprinting of the James Cook University insignia on the face of the credit card.

Head of Organisational Unit (Head of ORGU) – a position represented on the published University Organisation Structure for example Vice Chancellor, Provost, Deputy Vice Chancellor, Pro Vice Chancellor, Dean or Director.

Policy

Establishment and Review of Corporate Credit Card Arrangements

  • Subject to the approval of the Deputy Vice Chancellor, Services and Resources, 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 Deputy Vice Chancellor, Services and Resources,
  • The corporate credit card arrangements entered into with the card issuer 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 Travel and Expense Management System (TEMS) provider.

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 and Expense Reimbursements.

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 used in accordance with the following policies and procedures:

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 Cards and Expense Reimbursements.

The return of a corporate credit card must be in accordance with FMPM Procedure 421 – Corporate Credit Cards and Expense Reimbursements.

Suspension or Cancellation of Corporate Credit Cards

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

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).

Related documents, legislation or JCU Statutes

Financial and Performance Management Standard 2009 (S19)

Financial Transactions Reports Act 1988

Financial Accountability Act 2009

Income Tax Assessment Act 1997

Industrial Relations Act (Qld) 1999

Fringe Benefits Tax Assessment Act 1986

Payroll Tax Act 1971

Public Sector Ethics Act (Qld) 1994

Public Service Commission - Policies and Procedures

Public Service Regulation 2008

State Procurement Policy 2017 (published by the Queensland Government)

FMPM 710 Procurement Policy

FMPM 711 Procurement Procedure

FMPM 731 Procedure - Fringe Benefits Tax

For enquiries in relation to this FMPM Policy please contact:  corporatecreditcard@jcu.edu.au

Administration

Approval Details

Policy Sponsor

Deputy Vice Chancellor, Services and Resources

Approval Authority

Finance Committee

Date for next review

21/11/2020

Revision History

Version

Approval date

Implementation date

Details

Author

18-01 30/04/2018Changes made to reflect headline restructure 30/04/2018.Quality, Standards and Policy

17-01

21/11/2017

06/12/2017

Amended to incorporate changes to the JCU expense management system and travel policy and procedures.

Director Financial and Business Services

15-01

09/09/2015

10/09/2015

Policy Sponsor and Approval Authority updated to reflect the approved Policy and Delegations Framework

Quality Standards and Policy Unit

There are no other related documents.