VCOM Institutional Policy and Procedure Manual

VCOM Policy and Procedure

Policy U020

The President reviews Campus Dean and Division Officer monthly Credit Card Logs and may review others who have a total $3,000 of charges or expenses. Step 6: Credit Card Logs shall be turned in to the campus Staff Accountant in the campus Business Office no later than fifteen (15) business days after the ending date on the monthly credit card statements. Step 7: The Credit Card Logs, original, itemized invoices and monthly credit card statements are reviewed by Business Office staff. The campus Directors for Accounting and Budgets review these documents for cardholders assigned to their campuses. Cardholders shall answer questions asked by Business Office staff about the Credit Card Logs, the original, itemized receipts and the monthly statements. 5.8 Late Submission Credit Card Logs Credit Card Logs, original, itemized receipts and the appropriate monthly statements for VCOM cards or Dcards are due 15 business days and not later than 30 business days after the ending date on the charge card statements. If Cardholders have not turned in these documents 30 days after the due date, then the campus Director for Accounting and Budgets will inform the divisional officers to whom the cardholders report that the Credit Card Logs are late. The Assistant Vice President for Finance, and the Chief Financial Officer (CFO) shall be copied on these communications or e-mails. The credit card holder risks cancellation of the card if not turning in the appropriate documents. If Cardholders have not turned in these documents by 45 days after the due date, then the campus Director for Accounting and Budgets shall inform the divisional officers, the Vice President for Finance and Chief Financial Officer and the President. The Director for Accounting and Budgets will recommend that the cardholders’ VCOM cards or Dcards be suspended. Either the Vice President and CFO or the President may determine if the cardholders’ VCOM cards or Dcards be suspended. 6 Departmental or Divisional Charge Cards (VCOM Dcard) This section applies to the usage of VCOM Dcards. VCOM Dcards do not have an employee’s name embossed upon the charge card, and consequently, shall be stored in a secure and locked private place. VCOM Dcards are issued to divisional officers who have the responsibility of safeguarding these charge cards, ensuring the Dcards are checked out and checked in after a divisional employees utilizes them, that original, itemized receipts are turned in with the VCOM Dcards, and that the Credit Card Logs, original, itemized receipts, and the monthly credit card statements are turned into the campus Business Office by the deadline each month. Permission shall be obtained from the President by the divisional officer before VCOM Dcards will be issued. The divisions approved to obtain and utilize VCOM Dcards are Admissions

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