Credit Card Policy and Procedure

Credit Card Policy

A corporate credit card is available for employees scheduled to work 20 or more hours a week and who make frequent purchases for university-related activities if deemed necessary and approved by their supervisor. Calvin's Corporate Credit Cards should be used for ALL travel-related expenditures (airfare, lodging, meals, vehicle rentals, fuel expenses, etc.). Corporate credit cards may also be used for select other types of Calvin-related purchases. 

See the credit card user agreement (add link to agreement here) for a complete disclosure of policies relating to the use of the University’s corporate credit card. The following policies apply to the use of the corporate credit card: 

• Personal expenses may not be paid using a corporate card. If personal charges are inadvertently made on the corporate credit card, the personal expense must be reimbursed to the University via check within 30 days.
• Expense reports must be completed within 30 days.  However, at or near the fiscal year-end if communicated by Financial Services, expense reports are required to be completed within 15 days to be able to timely close the books for the annual audit. 
• Abuse of the corporate credit card may result in forfeiture of the card and/or other disciplinary action.
• A corporate card may be requested for an employee working a minimum of 20 hours per week.
• The corporate card may not be used at any time for cash advances.

See the University’s financial policies (add link here) for comprehensive policies on university spending.
 

New Credit Card Requests

To receive a Calvin corporate credit card for the first time, an individual will need to complete the “Huntington Corporate Card Request & Usage Agreement” found in Workday under the “Create Request” task. This form should be completed by the new card requestor and will automatically be routed to the appropriate supervisor(s) for review and approval. Please review the “Request a Huntington credit card” job aid located in the Workday SharePoint site for instructions on how to complete the request.

Credit Card Purchasing Procedures

1. Follow Spend Authorization Policies prior to making a purchase. See Spending Policies (add link to spending policies) for specific guidelines on when a Spend Authorization is required.  
2. Make a purchase with a credit card. Retain all original receipts or use the Workday mobile app to take a picture of the receipt for later use during the Expense Report process. All transactions must be supported by a detailed business purpose, proof of purchase documentation, details related to items purchased and/or people attending an event and submitted in a timely manner. Improper use of a university-issued card, including late expense reporting, lack of receipts or use for personal purchases, may result in disciplinary action up to and including termination of employment. 

3. Complete an Expense Report on Workday for the purchases. For additional information on the Expense Report process, please visit the 
    Workday SharePoint site.

    

Consequences of non-compliance with expense reporting deadlines

1. Compliance with expense reporting policies and deadlines is essential to meet both University financial goals and IRS Accountable Reimbursement Plan requirements. Failure to comply with the University’s Accountable Reimbursement Plan may result in expenses being treated as taxable income to the employee or result in deactivation or termination of credit card privileges. If an expense report is not submitted within 30 days of incurring the expense, the employee’s corporate credit card may be deactivated. Employees without an active corporate credit card will be required to pay University-related expenses personally and request reimbursement. FSO will work with the employee and supervisor to understand the circumstances related to missed deadlines and the related consequences. The University has established a three-stage policy process regarding credit card compliance, deactivation, or termination:  Stage One – After failing to submit an expense report within 30 days, the employee and the supervisor will be notified of non-compliance and reminded of University policies. 
2. Stage Two – After the second instance of non-compliance, the employee and the supervisor will be notified again.  The employee’s card may be deactivated until all expenses have been submitted and approved. The card will be reactivated once all reports are submitted and approved.
3. Stage Three - After the third instance, the card may be permanently deactivated. The cardholder will be asked to submit any remaining expenses. If they fail to do so within 15 days, the Financial Services Office (FSO) will submit the final report on their behalf.