Credit Cards: FIN 108

FINANCE: 100

Credit Cards: FIN 108

Adoption Date: October 25, 1999

Revised: April 2, 2007

Scope                         

This policy covers credit cards which may be requested and issued to the Board Chair, Superintendent or Directors.

Purpose                                  

To define eligible credit card holders and the reporting requirements for cardholders.

Policy Statement                    

It is the policy of the Cape Breton-Victoria Regional School Board that credit cards may be used by designated persons for the incurrence of expenses directly related to School Board operations.  Monthly reporting of such expenditures will be submitted to the Board Audit Committee for review and approval.

Cross Reference

Authorization             

This policy has been authorized by the Board under motions number...., dated....

Responsibility            

It is the responsibility of the Director of Finance to administer this policy.

Procedures                            

1.         It is the responsibility of the card holder to report all business transactions on the prescribed form.

2.        The credit card statement, receipts and reporting form are to be submitted to accounts payable no later than five (5) working days after receipt.  This will enable the accounts payable department to process these statements before they become overdue.

3.         On a regular basis, Visa statements will be presented to the Board Audit Committee.

Related Guidelines

N/A

Policy Review            

The policy will be reviewed by the Director of Finance within three years.

Distribution                            

Credit Card Holders

Board Members

All Policy Manual Holders