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Corporate Credit Card Policy

Section 1 - Definitions

(1) For the purpose of this Policy:

  1. Business Purposes – means that the expenditure has been undertaken for a purpose that is direction connection with, or as a direct consequence of, the Cardholders role/position responsibilities within the University.
  2. Card - refers to the University issued Corporate Credit Card for use by a Cardholder in the acquisition of goods and/or services.
  3. Cardholder – the staff member whose name appears on the Card.
  4. Corporate Card Administrators refers to University appointed authorities who have authority to oversee the issue of Cards to staff members or to revoke Cards from staff members.
  5. Private Expenditure - any expense that is not related to the University's business purposes or an expense is determined unreasonable. 
  6. Verifying Officers - refers to University appointed authorities who have authority to certify the identity of applicants.
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Section 2 - Policy Statement

Part A - Policy Declaration

(2) This document sets out the Southern Cross University policy relating to use of the University Corporate Credit Card.

(3) A University Corporate Credit Card is to be used solely for the payment of expenses associated with official University business activities.

(4) All purchases made with a University Corporate Credit Card must occur in accordance with the University's Procurement and Travel and Entertainment Policies and Procedures and Delegations Rule as they may be from time to time.

(5) A Cardholder must not charge personal expenditure to a University Corporate Credit Card under any circumstances. Failure to comply with the provisions of this policy including timely acquittal of expenditure may result in the withdrawal of the Card and the University taking disciplinary action against a Cardholder for any misuse of the Card. The disciplinary action could result in loss of employment and legal action being taken.

Part B - Policy Description

Objectives

(6) The University Corporate Credit Card ("the Card") is used to improve the University's purchasing and payment processes in terms of cost control, efficiency and effectiveness. Provisions within the University Procurement Policy apply to any transactions made using the Card. Instructions for its use are contained in the Corporate Credit Card Procedures.

Scope

(7) This policy is binding on all users of University issued Corporate Credit Cards.

Part C - Content and Implementation

Cardholder Responsibilities

(8) Card holders issued with a corporate card must ensure all expenses must be for legitimate University business purpose, meaning they are reasonable and appropriate in the circumstances, and publicly defensible. The expenditure must not be or perceived to be excessive.

Invoices and Receipts

(9) Receipts and invoices must be obtained at the time of the transaction (including contactless transactions) as detailed in the Corporate Card Procedures. It is the Cardholder’s responsibility to obtain receipts and tax invoices.

Acquittal

(10) Cardholders are responsible for acquitting the card transactions in the expense management system, including electronically attaching tax invoices and receipts, selecting relevant expense type and ensuring the required information is entered appropriately.

(11) Cardholders are accountable for timely and satisfactory monthly acquittal of the Card. Timely acquittal of the Card is essential for compliance with this policy and failure to acquit on a timely basis may result in withdrawal of the Card.

Disputed Transactions

(12) Cardholders are required to resolve any disputed transactions directly with the merchant/supplier.

(13) If the dispute is not resolved within 30 days from the transaction date with the merchant/supplier, the dispute needs to be lodged with the Issuing Bank for resolution. Resolution is the responsibility of the Cardholder who is responsible for completing and submitting this form.

Frequent Flyer Points

(14) There are no frequent flyer or reward points attached to the Card.

Cardholder Agreement

(15) Cardholders must acknowledge in writing, by signing the University's Corporate Card Statement of Responsibility and Agreement, to confirm their understanding of the terms and conditions for use of the Card.

(16) The Cardholder is bound by the conditions set out in the form, as well as by the provisions of this Policy.

Security of the Card

(17) The Cardholder is responsible for the following security measures:

  1. signing the Card immediately on receipt;
  2. securing the Card to prevent unauthorised use;
  3. reporting immediately the theft or loss of the Card to the Issuing Bank, and to the University's Corporate Card Administrator; and
  4. returning damaged or cancelled Cards to the Corporate Card Administrator in a secure manner.

Leave or Temporary Secondment

(18) The Cardholder is responsible for advising the Corporate Card Administrator:

  1. any leave or temporary secondment for periods greater than six months to enable the card limit to be reduced to $1;
  2. immediately if they:
    1. resign from their substantive position;
    2. move to another position either not authorised or not requiring the use of the Card; or
    3. are requested to do so by their Head of Work Unit or the Corporate Card Administrator.

Termination of Employment - Employee Obligations

(19) On termination of employment, the employee must:

  1. immediately advise the Corporate Card Administrator of their termination and cut-up the card (through the chip) and dispose appropriately;
  2. prior to their departure, ensure a final acquittal (Expense Report) has been submitted.  In the event transactions are not yet available to be acquitted, ensure all relevant invoices and documentation since the last acquittal period are forwarded to their supervisor;
  3. continue to assist the University in the event of issues relating to the use of the Card while the employee was at the University.

Assigned Supervisor's Responsibilities

(20) Head of Work Unit or delegated person is responsible for ensuring that the provisions of this policy have been followed before electronic approval is given on the Acquittal (Expense Report). Deviations from this policy must be explained in writing by the Cardholder together with the approval of the Cardholder's Head of Work Unit. The Head of Work Unit is responsible for ensuring that all expenses paid for or reimbursed by the University comply with this Policy and with other University policies including, but not limited to the Travel and Entertainment and Procurement policies.

Approval

(21) Responsibility for approving the issue of Cards to staff is listed in the Delegations Rule.

Expenditure

(22) The standard purchasing procedures and authorisation levels, as outlined in the University's Delegations Rule, apply to all purchases.

(23) All expenditure incurred using the Card must comply with the University's Procurement and Travel and Entertainment Policies and Procedures. Documentation for each purchase should be kept together in the work unit, i.e. initial request, quote, attachments, purchase confirmation form, delivery dockets, The tax invoice/receipt are to be attached to the acquittal.

Principles of Operations

(24) The Card is the preferred payment mechanism for the purchase of high volume/low value goods and services. It must be used for official University purposes only. The following internal controls have been established to ensure compliance with the Issuing Bank's Cardholder Conditions of Use and the University's Procurement Policy, namely:

  1. Authorising Officers
    1. The Authorising Officers are listed in the Delegations Rule, being the University delegates responsible for approving issue of the Cards to staff members or revoking Cards from staff members.
  2. Corporate Card Administrators / Verifying officers
    1. Corporate Card Administrators within Financial Operations are responsible for the issue of Cards, changes to Cardholder details (e.g. credit limits) and the cancellation of Cards.
    2. The University's Verifying Officers within Financial Operations are responsible for ensuring proof of identify of potential Cardholders.
      1. Note: Banking regulations require Card applicants to establish their identity with the issuing Bank by providing various personal documents as proof of identity. To overcome the necessity for applicants to present themselves personally to the Issuing Bank, the regulations permit the appointment of Verifying Officers who can certify the identity of the applicants.

Audit Restrictions

(25) There must be segregation of duties. The roles of Cardholder and authorised financial delegate cannot be the same person.

Conditions of Use

Personal Credit Rating/Liability

(26) Liability for charges incurred on the Card rests with the University and not the individual Cardholders.

(27) The use of the Card by the Cardholder does not therefore affect an officer's personal credit rating as it should only be used for official University purposes.

Restrictions on the Card's Use

(28) The Card is to be used for the payment of appropriate business expenses only. Restrictions apply to the payment of certain goods and services as detailed in the Corporate Card Procedures.

Limits

(29) The Card may be used to effect purchasing that is within the approved monthly Card limit. The default limit is $5,000 per month/transaction.

(30) Increases to default limits must be be meet business requirements and approved in accordance with the delegations schedule.

Misuse of the Card

(31) Misuse of the Card by the Cardholder may lead to:

  1. withdrawal of the Card;
  2. internal disciplinary action possibly resulting in loss of employment or legal proceedings; and/or
  3. a requirement for re-imbursement of inappropriate purchases

Cancellation of Card

(32) Cards can be revoked in accordance with the Delegations Rule. Cancellation of the Card may occur if:

  1. a Cardholder has misused the Card;
  2. the Card has been lost and a new Card needs to be reissued;
  3. the need for the Card within a Department no longer exists; or
Corporate Card Administrator's Responsibilities

(33) The Corporate Card Administrator is responsible for:

  1. certifying the identity of Cardholders;
  2. maintaining a register of Cardholder details;
  3. ensuring that the Cardholder signs the back of the Card when it is issued;
  4. distributing and processing Card Application forms;
  5. authorising and lodging requests to the Issuing Bank;
  6. ensuring the Cardholder has read, understood and signed the Cardholder’s Statement of Responsibilities and Agreement form;
  7. issuing the Card to the Cardholder;
  8. monitoring Cards to ensure compliance with the conditions of use and relevant University policy;
  9. monitoring to ensure timely acquittal is performed;
  10. ensuring lost or stolen Cards have been reported to the bank for cancellation;
  11. ensuring disputed charges are followed up and resolved by the cardholder;
  12. ensuring the return or cancellation of Cards no longer required;
  13. reporting misuse or unusual expenditure.

GST

(34) The University is liable to pay GST and entitled to claim a GST input tax credit when it holds a valid Tax Invoice. Penalties may be imposed by the Australian Taxation Office for non-compliance with the legislation and for incorrect claiming of input tax credits.

(35) Cardholders are therefore required to obtain Tax Invoices from suppliers within Australia to demonstrate compliance with the legislation and to support input tax credits being claimed.

(36) The Card should not be used to purchase goods and/or services where a supplier cannot quote their ABN. A Purchase Order must be raised in these instances.

Reporting and Monitoring Audit

(37) Reporting and monitoring will be conducted on a periodic basis to ensure compliance with University policy and procedures and to identify potential inappropriate expenditure.

(38) Periodic audits may be conducted into compliance with the Policy and Procedures by internal audit. 

Part D - Breach of Policy

(39) A breach of this Policy or the Corporate Credit Card Procedurescould result in the employee facing disciplinary action in accordance with the Code of Conduct, which could result in the loss of employment.