Guidelines for Credit Card Users
- Responsibility of Cardholder:
The employee named on the card has primary financial responsibility for charges on that card and must sign each Corporate Card Approval Form. This responsibility cannot be delegated. The credit card company requires that any disputed amounts appearing on the statement must be handled directly by the named cardholder. Finance Office staff may be able to assist you with disputes after this initial contact.
- Review of Credit Card Expenditures by Supervisor:
The completed Corporate Card Approval Form must also be reviewed and signed by your immediate supervisor or department chair.
- Personal Use of Credit Card Prohibited:
The credit card may not be used for the purchase of personal items. All expenditures must have a verifiable business relationship to the college. Should you inadvertently use the Rhodes card for a personal transaction, please notify the Director of Accounting in the Finance Office immediately with information concerning the transaction and proof of repayment through the Bursar’s Office to the appropriate Rhodes budget account.
- Receipts and Expenditure Reporting:
All receipts of $25.00 or more must be attached to the Corporate Card Approval Form. An explanation of each credit card transaction should be detailed enough to enable the Finance Office and your chair/supervisor to understand the nature of the charge. We ask that you not use general phrases like “Internet purchase”, “Travel”, or “Meals”. Instead, please give destination and purpose of trip when travel is involved, a descriptive summary of items and use for purchases made, and who was entertained at meals and the business relationship.
- Travel Pre-approval:
All business travel should be pre-approved by your department chair or supervisor.
- Computer and Peripherals Purchases:
No computers or peripheral equipment may be purchased without the pre-approval of the Vice President for Information Services. Please refer to the "Purchasing and Procurement" section of the Computer Usage Policies.
- Sales Tax on Large-ticket Items:
As a tax-exempt organization, no sales tax will be paid by the college on major purchases. The college may require sales tax paid on large purchases to be reimbursed by the cardholder. Therefore, it is imperative that you utilize suppliers that have the Rhodes College sales tax exemption number on file. If a vendor is used who does not have our state sales tax exemption number on file, please contact the Finance Office.
In effect March 17, 2008.
Vice President for Finance and Business Affairs.