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POLICY INFORMATION

Policy TitleFoundation Credit Card Policy
Document Type
  • Policy
  • Procedure
  • Guidelines
  • Form
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Approval Date

August 6, 2010

Approved by
Effective Date


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POLICY CONTENT

Purpose
Applies To
Policy Statement

The Foundation will issue a corporate credit card to be used by approved individuals for business on behalf of the Fredonia College Foundation. The card is issued in the name of the Foundation and does not affect the individual’s credit rating. 

The following usage guidelines and parameters must be agreed to by the user of any corporate card:

  • The corporate credit card will be used only for Fredonia related business.

  • The card may be used for meals only with a prospect or college-related meal/event. 

Exclusions
Consequences

Usage of the credit card for any personal business is strictly prohibited. If this should occur, the user must reimburse the Foundation for the full amount of the expense(s) incurred. A check must be made payable to the Fredonia College Foundation

Enforcement

The Executive Director of the Foundation approves the issuance of corporate credit cards.

Background
Related Policies

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Related Procedures

The following procedures related to the billing must be followed:

  • The credit card billing statement will be received directly by the credit card holder on a monthly basis, and will then be forwarded to the Foundation Controller after the credit card holder reviews and reconciles the statement.

  • The review/reconcile should include verification of business expenses by matching charges to receipts.

  • The billing statement must be submitted to the Controller for payment, using a Foundation Check Request Form with the appropriate account information and the usual approval and documentation for disbursements. Documentation requirement are specified in the Foundation Disbursements policy, dated 10/24/08. 

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Category(s)
  • Academic Affairs
  • Advancement
  • Financial
  • Governance
  • ITS
  • Operational
  • Personnel
  • School/College
  • Student Life
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